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Legacy media companies enter dark times as failures mount and Netflix rises again

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This year was supposed to be a rebound for legacy media companies such as Disney and Warner Bros. Discovery. But it's been a rough ride so far.

Disney, Warner Bros. Discovery, Paramount Global and Fox have all had major setbacks in 2023.

The legacy media industry is in retrenchment mode as Hollywood writers strike and Netflix bounces back.Bob Iger, CEO of The Walt Disney Company, left; David Zaslav, CEO and president of Warner Bros. Discovery, center; and Bob Bakish, president and CEO of Paramount Global.

 

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