WarnerMedia takes $1.2 billion revenue hit in hopes that HBO Max pays off in the long run

AT&T reports in its quarterly earnings this morning that its WarnerMedia division lost more than $1 billion in revenue due to investment in HBO Max, the streaming service it’s preparing to launch this May. Specifically, those losses are due to “HBO Max investments in the form of foregone WarnerMedia content licensing revenues.”

Source: WarnerMedia takes $1.2 billion revenue hit in hopes that HBO Max pays off in the long run

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