​CNN Effectively Worthless After Parent Warner Bros Takes $9.1 Billion Writedown – Tyler Durden

CNN Effectively Worthless After Parent Warner Bros Takes $9.1 Billion Writedown What had been obvious “to the rest of us” for years, is finally official: late last night, shares of Warner Bros. Discovery, the parent of CNN and TNT, crashed 10% to the lowest level on record after it reported dire results, which missed across the board and plunged across every income statement category… … but the biggest hit – and surprise – was the company’s stunning $9.1 billion charge taken to write down the value of its traditional TV networks, such as CNN and TNT, which were acquired in…  — Continue at ZeroHedge News : Read More