Warner Bros Discovery explores separating streaming, studio businesses from legacy TV networks to boost share price.
Warner Bros Discovery, owner of CNN, HBO, and TNT Sports, has considered separating its digital streaming and studio businesses from its legacy TV networks, as a potential move to increase its share price. The company's share price has declined by 65% since its formation in 2022 from AT&T's Warner Media and Discovery. AT&T's acquisition of Time Warner and DirecTV failed to transform the telecom giant into a media juggernaut, resulting in over 52,000 layoffs and 8 million TV subscriber losses.
July 25, 2024
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