Core Viewpoint - Warner Bros. Discovery (WBD) is facing ongoing losses and revenue declines in its TV and studio businesses, despite having successful releases, indicating struggles within a declining industry [1]. Earnings Results - WBD reported continued losses and a decline in revenue in its fourth quarter [1]. - The company experienced a year marked by a series of hits in both theaters and on television, yet these successes were not enough to offset the overall financial downturn [1].