Aug 20 (Reuters) - Warner Bros Discovery ( WBD ) said on

Tuesday it would spend at least $8.5 billion to produce movies

and television shows at a new studio at Las Vegas in Nevada, if

the state provides promised tax incentives.

The media giant is partnering with the University of Nevada,

Las Vegas and family-owned real estate firm Birtcher Development

to lease and operate a production facility that will be known as

"Warner Bros. Studios Nevada".

The facility will be located on a proposed 34-acre campus at

the UNLV's Harry Reid Research & Technology Park in Las Vegas

and will feature full-service film and television studios and

other facilities.

The new partnership depends on the outcome of a proposal,

initially introduced by State Senator Roberta Lange during the

2023 legislative session.

Such financial incentives are attractive to Hollywood

studios as they grapple with mounting production costs, further

exacerbated by cord-cutting by consumers and slump in ad

dollars.

Warner Bros Discovery ( WBD ) wrote down the value of its TV assets

by about $9.1 billion earlier this month, reflecting declining

television viewership and ad revenue.