Here's another data point: WBD says its TV assets are worth $9 billion less than it thought just two years ago. That's not great. But Wall Street isn't that surprised: It reached this conclusion a while ago.
WBD just took a $9 billion accounting hit because it has concluded that its aging TV assets aren't worth nearly as much as it thought - perhaps because they won't have NBA games to show after the next season. Investors reacted by pushing the company's stock down by more than 8%.
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