Warner Bros. Discovery said it lost $1.07 billion in the first quarter as it continues to try to rationalize its operations following last year’s merger of Discovery and Warner Media, which left the company saddled will billions in debt.
The company said it added 1.6 million direct-to-consumer subscribers since the end of the year and now has 97.6 million as it prepares to launch Max, the streaming service combining HBO Max and Discovery Plus. A year ago, it had 90.6 million subscribers.
