The news comes after the newly merged company reported a net loss of $3.42 billion in the second quarter. “At the end of the day, bringing all the content together was the only way we saw to make this a viable business,” Perrette told analysts. Warner Bros. leadership is planning a major overhaul of its streaming offerings and also needs to cut $3 billion in costs, which has fueled rumors that an HBO Max launch is in the works. Executives didn’t reveal the new platform’s name or pricing details, but did say it will include an ad-free and less expensive ad-supported plan. It may also add an ad-supported free tier to further expand its audience. There was no mention of layoffs at HBO Max on today’s earnings call — which The Wrap reported are imminent as the two streaming platforms restructure. Engadget has reached out to HBO Max for comment and will update if we hear back. It’s unclear exactly how the merger will affect future content offerings at the newly merged streamer. The company suddenly announced this week that it has canceled two movies in development for HBO Max — Batgirl and Scoob!. Around the same time, the streamer announced it was canceling The Gordita Chronicles and ending its live-action programming for kids and family. Several shows and movies have disappeared from HBO Max in recent weeks, including Moonshot, The Witches, and An American Pickle, and more are reportedly set to follow. One thing’s for sure: We’ll see far fewer blockbuster movies premiering on the new streamer, as was the norm during the pandemic. The CEO of Warner Bros. Discovery’s David Zaslav said that releasing movies in theaters simply brought in higher profits. “That’s why most people got into this business — to be on the big screen when the lights go out,” Mr. Zaslav said. “That’s the magic, and the economic model is much stronger.” All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories contain affiliate links. If you purchase something through one of these links, we may earn an affiliate commission.
