Warner Bros Discovery Inc (NASDAQ:WBD) has revised the estimates for restructuring charges related to its acquisition of WarnerMedia.
The media company said in an SEC filing that content impairment and development write-off charges could be up to $3.5bn, $1bn more than previously thought.
The new estimate includes $2.8bn to $3.5bn of content impairment and development write-offs.
In October, Warner Bros Discovery said it expected to incur total pre-tax restructuring charges of $4.1bn to $5.3bn.
The company said its restructuring efforts are ongoing and could result in additional impairments above the revised estimates.
The news comes as Warner-owned DC Studios’ new co-chairman, James Gunn, is said to be writing a Superman movie that won't involve actor Henry Cavill.
Gunn’s new Superman film will take the character in a different direction and focus on the superhero’s younger years.
Cavill has played Superman since the 2013 film 'Man of Steel' and last appeared in the role in a cameo in 'Black Adam' earlier this year. He announced in October that he would be returning to the role.