Warner Posts $27M Loss

Warner Music Group posted a 2Q loss of $27 million during the three months ending March 31st, compared to a $7 million loss for the same quarter last year.

The company cited costs of restructuring, including eliminating 10 percent of its workforce – 400 jobs total.

Meanwhile, Viacom cited a 1Q earnings drop of 36 percent, weighed down by higher marketing expenses for movies and a restructuring charge at its MTV group.

Results still beat analysts’ estimates. As for Barry Diller’s IAC/InterActiveCorp., the company said its 1Q net profit rose 31.6 percent boosted by good results from Ticketmaster and Ask.com, offsetting declines at HSN home shopping network and LendingTree.