12:55 PM EDT, 05/08/2024 (MT Newswires) -- (Updates with additional details in third paragraph, MT Newswires' attempt for comment)

Warner Bros. Discovery ( WBD ) Chief Executive David Zaslav has ordered his staff to find additional areas for cost-cutting, including potential layoffs, in order to hit financial targets set for the next two years, Bloomberg reported, citing people with knowledge of the matter.

The company has also decided to raise subscription prices as it seeks to earn $1 billion from the Max and Discovery+ streaming services next year, the people said, according to the report.

The company also plans to consolidate marketing and technology teams for its streaming services, the people reportedly said.

Warner Bros. did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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