HBO and CNN owner Warner Bros. Discovery to split in 2
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Axios on MSNCNN owner Warner Bros. Discovery plans to break up media empireWarner Bros. Discovery, the parent company to Atlanta-based cable channels such as CNN, TBS and TNT, plans to split into two publicly traded companies, largely parting its television networks from its streaming business.
Warner Bros. Discovery is splitting into two separate publicly traded companies – one oriented around the HBO Max streaming service and Warner Bros. studio, and the other around CNN and other television networks.
Would you like to own CNN, TNT, and the Discovery Channel?Warner Bros. Discovery owns them now — but wants to get rid of them.WBD's move follows a similar one Comcast announced a few months ago. Because while cable TV networks still make money,
The move, which reallocates assets such as HBO Max and CNN, is the latest reflection of how streaming is remaking a media business in which Warner Brothers Discovery and other legacy players traditionally garnered considerable revenues from "bundled" cable ...
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