Warner Bros. Discovery linear networks continued to lose ground amid ongoing challenges, weighing on the fourth quarter along with more one-time charges.

There was great news today for entertainment giant Warner Bros Discovery (WBD), which is great, because the news has not been especially good

Warner Bros Discovery said it expects streaming profits to double this year and forecast at least 150 million subscribers for the business by 2026, setting a bold target as it benefits from the global rollout of Max and tight cost controls.

The Hollywood giant, led by CEO David Zaslav, disclosed a $9.1 billion networks unit impairment charge for 2024 and outlined a path to 150 million streaming subs by the end of 2026.

Warner Bros. Discovery posted a fourth-quarter loss as the company grappled with $1.9 billion in charges and restructuring expenses, even as the company added 4.6 million subscribers to its streaming outlets.

Warner Bros Discovery said on Thursday its streaming service will have at least 150 million users by 2026, after Max's global expansion powered stronger-than-expected subscriber gains in the fourth quarter.

Warner Bros. Discovery posted a bigger loss than Wall Street was expecting Thursday, as a slump in advertising spending dragged on revenue for its TV networks. But investors didn’t appear too fazed by the media conglomerate’s latest results,