WarnerMedia to increase HBO's programming budget by $500 million in 2019 and 2020

Observer

“We didn’t put $100 billion into a transaction for want of a couple billion to figure out how to run it better,” WarnerMedia CEO John Stankey says in a Variety profile. “We are going to invest in (content) and we are going to put several billion more in to make sure that $100 billion investment pays off in the way we expect it would.” The $500 million is on top of HBO's $2.5 billion annual budget.