It's a big number. It's overshadowed earnings, and things aren't going particularly well. Give me the specifics of the write-down and the reasons behind it. Yes. So basically what CEO David Zaslav discussed on the earnings call was that things have drastically changed in the media landscape. Valuations are different, market conditions are different, and this is a more realistic value for their traditional TV networks. And this is a signal to other major media companies to maybe take a look at their own traditional TV holdings and see if they, too, are overvalued. I want to really focus on the technology story within it, which I think is everyone went to streaming and said they were left with properties that just weren't worth what they were at the time. The other issue for Warner Brothers Discovery, of course, is we're now down 11% in the session. What happened with sports rights and NBA. That was a point of discussion. Just update us on what's going on.

Yes.
So what happened with Warner Brothers was that they missed out on a $76
billion deal to get media rights for NBA games starting for the 2025 to 2026
season. They are now suing the NBA, alleging
breach of contract. That lawsuit was mentioned briefly
during the call, with Zaslav saying that they are confident in their position and
it's in the hands of lawyers right now.

Warner Bros. Shares Tumble to Lowest Level Ever

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