Aug 16 (Reuters) - Warner Bros Discovery ( WBD ) said on

Friday that Channing Dungey will replace veteran Kathleen Finch

as chairman and executive chief of the U.S. networks business by

the end of the year.

Dungey, currently leading the Warner Bros Television group,

will assume her new role following Finch's retirement.

Finch, a two-decade media executive veteran was appointed as

the CEO in 2022 following the merger of Warner Bros Media and

Discovery, and oversaw HGTV, Food Network, TLC among others.

Earlier this month, the company

reported

a $9.1 billion non-cash goodwill charge, largely due to

declining advertising revenue.

Additionally, TNT, Warner's sports network, failed to renew

broadcast rights with the National Basketball Association,

further impacting the media company's profitability.