Warner Bros. Discovery Lays Off Fewer Than 1,000, Sells Burbank Studios for $375M with $281M Financing
Warner Bros. Discovery has initiated a new round of layoffs affecting various departments including production, business affairs, and finance. This move is part of ongoing cost-cutting measures, with fewer than 1,000 jobs affected. Concurrently, Warner Bros. Discovery sold its iconic Burbank Studios for $375 million to a partnership between Worthe, QuadReal, and Stockbridge. The deal included $281 million in seller financing. The same owners had sold the property to Warner Bros. Discovery last year.
Sources
IndieWire
Warner Bros. Discovery is undergoing another significant layoff. A person with knowledge of the plan tells IndieWire the number is fewer than 1,000. https://t.co/YrCL9pNjwf
The Hollywood Reporter Layoffs Hit Warner Bros. Discovery Again https://t.co/XqTo0h88ey
MacroEdge Warner Bros. Discovery is making more job cuts this week as part of another round of cost-cutting measures. #MacroEdge
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