The closure of the GCN+ streaming app in late 2023 set Warner Bros. Discovery back more than £3m in “restructuring costs”, the company’s latest annual accounts reveal.

Covering the period to the end of December 2024, and published this week, the accounts for WBD Sports Holding Limited show a pre-tax loss of close to £38m, almost all of which is due to the company’s dealings with Play Sports Network Limited, the parent company of the YouTube channel GCN.

WBD wholly owned Play Sports Network until June 2024, when it reduced its shareholding to 30%, and sold a majority share back to its original founder Simon Wear and CEO Mia Walter. As part of the deal, WBD wrote off more than £33m of debt outstanding from Play Sports Network, which forms the lion’s share of the company’s losses for 202

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