Warner Bros. Discovery to split
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Warner Bros. Discovery said it will separate its media businesses into two new companies, with cable in one and streaming and studios in the second.
Just three years after the iconic Warner Bros. film studio and television business was acquired for $43 billion by Discovery, the two companies are being split in two again. On one side will reside Warner Bros.
Warner Bros. Discovery will split into two companies by next year, with much of its streaming and movie production moving under one company and its live sports and news to another, according to the Washington Post .
Warner Bros Discovery’s credit was slashed to junk, the latest fallout from broadcasting’s collapse. Some $34 bln in net debt makes it hard to cleave CNN from HBO while satisfying both lenders and shareholders.