WBD’s CFO describes NBA loss as a triggering event that shook the company [Video]

After losing the NBA media rights to Disney and Amazon last month, Warner Bros. Discovery has announced that they are currently evaluating their business, as they reveal how big of a blow they are suffering financially after what they call a “triggering event.” Nevertheless, they also explained how their failed negotiations aren’t the only reasons behind it. 

WBD reported that they earned a $9.1 billion non-cash impairment charge related to the company’s TV networks just during the second quarter of this year. “There’s a systematic process that we go through every quarter, and we’re monitoring for a so-called triggering event,” said Gunnar Wiedenfels, CFO for Warner Bros. Discovery.

“This is clearly where a discussion, like the one with the NBA, comes into play as a triggering event, which then compels us to reevaluate our business case in a strategic planning process with the latest assumptions, the best view of where …