Home / Business and Economy / WBD Reports Q4 Loss Amid Shifting Acquisition Landscape
WBD Reports Q4 Loss Amid Shifting Acquisition Landscape
26 Feb
Summary
- Warner Bros. Discovery reported $9.46 billion revenue with 131.6 million streaming subscribers.
- The company posted a $252 million loss in the fourth quarter of 2025.
- Ongoing acquisition talks involve Netflix and Paramount Skydance.
Warner Bros. Discovery released its fourth quarter 2025 financial results, reporting total revenue of $9.46 billion and reaching 131.6 million global streaming subscribers. The company experienced a net loss of $252 million for the quarter, though adjusted EBITDA stood at $2.216 billion.
Overall revenue declined 6 percent compared to the previous year, with streaming subscriptions growing by 3.5 million during the quarter. However, advertising revenues decreased by 9 percent, partly due to the loss of NBA broadcasts. Studio revenues fell 13 percent, mainly from reduced content sales, and global linear networks revenue dropped 12 percent.
The company's financial situation is occurring concurrently with significant acquisition interest. Reports indicated a $83 billion acquisition proposal from Netflix, contingent on WBD splitting off Discovery. Meanwhile, David Ellison's Paramount Skydance is reportedly in competition, willing to pay a premium for Warner Bros. Discovery.
A planned split and spin-off of Discovery assets is proceeding as boards and shareholders deliberate the offers. If Netflix ultimately acquires the company, David Zaslav would lead Warner Bros., with CFO Gunnar Wiedenfels potentially managing a standalone Discovery entity.
