Parsing Linear TV's Massive $15 Billion Correction

[Admin]

Such a week of mayhem for the business of television, and for lovers of the Next Text brand, of which there are perhaps more than of cable TV.



At least that’s what it seems like lately. When’s the last time a company you worked for wrote off more than $9 billion in value for one of its most important divisions, as Warner Bros. Discovery did, sending shares plunging to an all-time low? Or for that matter, a mere $6 billion write-off, along with 2,000 layoffs, as Paramount is doing? Paramount shares actually rose Friday morning, which says how much post-traumatic stress its non-controlling shareholders have (boy, is Warren Buffett looking smart, again, for pulling the ripcord last spring on his stake, despite losing “a ton of money").

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