The days ofWarner Bros. Discoverycutting content for tax purposes are over, according toCFOGunnar Wiedenfels.
WBD has gotten a lot of public noise about the content writeoffs that we took, the exec continued.
That is a reflection of an industry that went overboard and went on a spending frenzy.
Warner Bros DiscoveryMike Coppola/GI for Warner Bros. Discovery
The company has projected it will achieve $3.5 billion in cost savings as a result of the merger.
Its a new day.
Theyre looking at what works, what doesnt work.
Declines in WBDs stock price in recent months have reflected widespread uncertainty about the merger.
The stock was up about 6% today to around $11 in mid-day trading.
Beyond that, there is opportunity for more trims, he said.
Theres a real estate portfolio where there may be better structures for us to generate liquidity.
Were in the process of analyzing those less-visible, non-core parts of the portfolio.
No debt repayments are looming and the interest rates are favorable, he said.
