this post was submitted on 26 Jul 2023
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Socialism
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"Disney claims it needs to destroy the content to cut costs on platforms that aren’t making money, but experts say the company is overstating the value of its content — which could ultimately help the company pocket a higher tax break.
In May, Disney told regulators that it will incur $1.5 billion in losses as part of its content purge. Disney’s chief financial officer, Christine McCarthy, told investors Disney was making “excellent progress on our cost-cutting initiatives,” on its May earnings call, including “removing certain content from our streaming platforms.”
How can it be both?
They are portraying it as a loss in assets, while the other is a gain in revenue.
It's still bullshit to portray it as an asset loss because it is not destroyed, but that appears to be what they are saying.