“As a result, we will be removing certain content from our streaming platforms and currently expect to take an impairment charge of approximately $1.5 million to $1.8 billion.”

In context

“s that deep up and direct to consumer, we're more than offset by declines at our linear network's business. As Bob mentioned, we are making excellent progress on our cost-cutting initiatives and are on track to meet or exceed the efficiency targets we outlined last quarter. During Q2, we took a restructuring charge over approximately $150 million, primarily related to severance. While we are continuing to refine our estimates, we currently expect to record additional severance charges of approximately $180 million over the remainder of this fiscal year with the bulk of that additional charge expected in the third quarter. We are in the process of reviewing the content on our DTC services to align with the strategic changes in our approach to content curation that you've heard Bob discuss. As a result, we will be removing certain content from our streaming platforms and currently expect to take an impairment charge of approximately $1.5 million to $1.8 billion. The charge, which will not be recorded in our segment results, will primarily be recognized in the third quarter as we complete our review and remove the content. And going forward, we intend to produce lower volumes of content in alignment with this strategic shift. Now, to dive into our quarterly results by segment, starting with our Media and Entertainment Distribution Business, a year-over-year decline in operating income was driven primarily by a $1 billion decrease at linear networks. DTC results improved versus a prior year in content sales licensing and other operating results in the second quarter declined modestly. At linear networks, results were consistent with guidance given last quarter, driven by decreases of approximately $800 million at our domestic linear networks and $1”