🚨 BREAKING!
There is a HUGE fire reported at Warner Bros Studios in Los Angeles, CA. 😎🖕🏼 Nate Burruano
In the Midwest, watching the corn and soy poison us all, really up-close-like now.
$49.5B in debt. Potent read from early this morning, before the fire.
"Last week we noted how the brain trust behind the Warner Bros Discovery deal had now begun cannibalizing the company’s future by licensing “HBO” content to streaming competitors like Netflix to make an extra buck. Now there are rumblings that Warner Discovery CEO David Zaslav is looking to offload much of the movie and music licensing rights the company spent all that money to acquire:
The windfall from such a sale — coming at the top of a still-booming market for music catalogs — would help the company to pay down a $49.5 billion debt."
https://www.techdirt.com/2023/06/30/warner-bros-discovery-poised-to-sell-off-music-movie-catalogs-because-megamergers-are-stupid-and-pointless/
Warner Bros Discovery Poised To Sell Off Music, Movie Catalogs Because Megamergers Are Stupid And Pointless | Techdirt
We just got done noting how the AT&T--->Time Warner--->Warner Bros Discovery mergers just keep on demonstrating the absolutely pointlessness of most media mergers. The combined companies spent hundreds of billions of dollars on elaborate, costly acquisitions that never got close to deliver..
https://www.techdirt.com/2023/06/30/warner-bros-discovery-poised-to-sell-off-music-movie-catalogs-because-megamergers-are-stupid-and-pointless/
