Warner Bros. Discovery books $2.9 billion net loss tied to Paramount deal, restructuring costs

An American flag flies at Warner Bros. Studio in Burbank, California, on Sept. 12, 2025. Mario Tama | Getty Images Warner Bros. Discovery on Wednesday reported a staggering net loss for the first quarter, but it has an explanation. The company booked a net loss of $2.9 billion, far larger than the net loss of $453 million it reported in the year-earlier quarter. …