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We seem to be going in the wrong direction, Ziffren bluntly said.
Streaming profits are still scarce and dont yet offset broadcast and cable declines.
Discovery and circa $6 billion atParamount.
Netflix, Warner Bros. Walt Disney & Universal StudiosGetty Images
As Ziffren pointed out Friday, an overall diminished big screen box office isnt doing anyone any favors either.
Theres no imminent rescue for WBD, perhaps in its darkest hour after likely losing the NBA.
Shares are down about 70% since the merger.
First-moverNetflixand arms dealers like Sony seem to be weathering the transition the best.
Those rising costs are a vital factor in the stagnant production weve seen this year, Ziffren said.
Debt load is also hurting many companies.
Which is why his words Friday carry such weight.
Among attendees were Jeff Berg, Britney Spears lawyer Mathew Rosengart and Johnny Depps lawyer Camille Vasquez.
