They are cutting $3.5 Billion this year, not $300 Million.
During Warner Bros. Discovery’s third-quarter earnings call Thursday, which came after the release of rough financial results for the media conglom and mediocre subscriber growth, Zaslav said the company is now increasing that target to $3.5 billion.
Warner Bros. Discovery is upping the goal for its seemingly never-ending cuts across the board, six months after the merger of WarnerMedia and Discovery.
variety.com
That is why they are canceling so much from HBO, before, the merger was going to be HBO with Discovery+ content, now it looks to be Discovery+ with some HBO content, with a price increase.
Main reason is the Discovery+ content is cheap to produce and largely already paid for since it airs on Cable Channels first, so Traditional Providers and subscribers are already paying for it with per sub fees, then Warner/Discovery can make more from it by putting it on their streaming service.