Warner Bros. Discovery posted a $2.9 billion loss this quarter.

Paramount Skydance is buying Warner Bros. The $2.8 billion breakup fee paid to Netflix makes up most of this loss, but it also includes $1.3 billion in other expenses related to its merger with Paramount. As noted by CNBC, Paramount agreed to cover the hefty termination fee, “but the cost lives on WBD’s books until the close of the deal.” Posts from this author will be added to your daily email digest and your homepage feed. Posts from this topic will be added to your daily email digest and your homepage feed. Posts from this topic will be added to your daily email digest and your homepage feed. Posts from this topic will be added to your daily email digest and your homepage feed. A free daily digest of the news that matters most. The Verge is a part of PMX Global, LLC, a subsidiary of Penske Media Corporation. © 2026 VM Publishing, LLC. All rights reserved. Sign in to see your notifications or create an account to join the conversation.