TLC’s decision to ax “19 Kids and Counting” proved a costly one for its parent company.
Discovery Communications said Wednesday restructuring costs rose by $19 million in the second quarter, mostly to reflect the cancellation of the show last month.
The company booked $24 million in charges, up from $5 million a year ago, “due to content impairment charges from cancelling TLC’s ‘19 Kids and Counting,’” CFO Andy Warren said during a call with analysts.
TLC canceled the reality show featuring the Duggar family in July after revelations that 27-year-old Josh Duggar molested five children, including four of his sisters.
The show’s cancellation contributed to a rough quarter for the company.
Discovery, which also owns the flagship Discovery Channel and Animal Planet, reported revenue and profit that fell short of analysts’ expectations, hurt by lower ad sales and a strong dollar.