Warner Bros. Discovery lost $3.4 billion in the first quarter after the merger

In a statement accompanying the release of the numbers, embattled CEO David Zaslav had this to say:

“We have had a busy and productive four months since the launch of Warner Bros. Discovery, and are more convinced than ever of the enormous opportunity before us. We have the creative engine and the most powerful in the world, as evidenced by our industry-leading 193 Emmy nominations, and we intend to maximize the value of this content through a broad distribution model that includes cinema, streaming, linear cable, free streaming, games, consumer products and experiences, and more, all over the world.

We are confident that we are on track to achieve our strategic goals and truly excel, both creatively and financially, and we couldn't be more excited about the future of our business."

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When it comes to consumers, the cascading effect means a newly revamped streaming service that combines both HBO Max and Discovery+, though big price increases could end up being part of the equation. Amid fears that various titles have been removed from HBO Max out of the blue and many more are missing, viewers should be prepared for many more changes on the horizon.

Of course, this is just the crowning glory of the company's chaotic last days. It all started with the shocking decision to shelve "Batgirl" and the animated "Scoob!" sequel, despite pouring millions of dollars in resources into both productions, before pulling the plug extremely late in the process. Rumors surrounding the "Supergirl" solo movie have only heightened questions about DC Universe's slate of hot projects. It remains to be seen how exactly these mind-boggling financial numbers will further upset a studio in the midst of a major upheaval.