Warner Bros. Discovery plans to spin off its cable networks, projecting revenue decline to $15.6 billion by 2030, as Netflix and Paramount bid for its assets.

Warner Bros. Discovery projects declining cable network revenue to $15.6 billion by 2030, down from $16.9 billion in 2026, with EBITDA dropping to $3.2 billion. The company plans to spin off its cable unit, including CNN and TNT Sports, into Discovery Global, expected to generate $17 billion in 2026 revenue, falling to $15.6 billion by 2030. CNN’s revenue is forecast to grow to $2.2 billion by 2030, driven by streaming subscriptions. Netflix offers $27.75 per share in cash for the streaming and studio assets, while Paramount bids $30 per share with debt and personal guarantees. WBD argues Netflix’s deal is superior due to higher projected value from the spinoff, with its equity value potentially ranging from $1.33 to $6.86 per share.