Warner Bros. Discovery Lifts Writedown Costs to $5.3 Billion (2)

Warner Bros. Discovery Inc., the film and TV giant, expects to incur writedowns and merger-related costs of up to $5.3 billion, far above previous estimates as management continues to drop movie and TV projects.

The media conglomerate, created by the union of Discovery Inc. and AT&T Inc.’s WarnerMedia, had previously estimated such expenses at up to $4.3 billion. The new sum was disclosed in a regulatory filing Wednesday.

“The company’s restructuring efforts are ongoing and could result in additional impairments above the revised estimates,” Warner Bros. said in the filing. The restructuring won’t be substantially done until the ...