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While at the center of a tug-of-war between Paramount Skydance and Netflix, Warner Bros. Discovery reported its fourth-quarter 2025 earnings results Thursday.

According to the David Zaslav-led company, Wbd narrowed its losses to $252 million during the October-December quarter and saw streaming subscribers reach nearly 132 million amid an increased international rollout for HBO Max.

“With the successful recent launches of HBO Max in Germany and Italy, as well as the upcoming launches in the United Kingdom and Ireland on March 26th, we expect to finish the first quarter of 2026 with more than 140 million subscribers, well on our way to more than 150 million subscribers by year end,” Warner Bros. Discovery said in a letter to shareholders accompanying the financials.

In these materials, Warner Bros. Discovery stated CEO Zaslav and other Wbd brass “will not be answering any questions” during the earnings call with analysts Thursday regarding Wbd’s pending acquisition battle between intended buyer Netflix,…

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