Warner Bros. Posts Lower Sales, Profit Amid Takeover Fight

Warner Bros. Discovery Inc. reported lower fourth-quarter sales and earnings, underscoring the challenges the media giant is confronting as it weighs competing takeover bids from rival entertainment companies.

Fourth-quarter revenue declined 6% to $9.46 billion, the company said Thursday. Adjusted earnings before interest, taxes depreciation and amortization shrank to $2.22 billion. Still, both were better than Wall Street expectations.