Warner Bros. Forecasts Declining Sales, Profit for Cable Unit

Warner Bros. Discovery Inc. is projecting declining revenue and profit over the next five years for its cable networks, which the company plans to spin off before selling the streaming and studios business to Netflix Inc.

Total revenue for Warner Bros.’ channels, which include CNN, TNT and the Cartoon Network, will fall to $15.6 billion in 2030 from $16.9 billion projected this year, the company said Tuesday in a filing related to its Netflix deal. Earnings before interest, taxes, depreciation and amortization will shrink to $3.2 billion from $4.8 billion.