Group behind CNN and HBO has discussed options including spin-off of its streaming service and movie studio
Warner Bros Discovery has discussed a dramatic plan to split its digital streaming and studio businesses from its legacy television networks as the US media giant behind CNN and HBO weighs options for boosting its sagging share price.
Analysts at Bank of America have warned that such a split could have a “potentially devastating” impact on bondholders, and WBD rival Lionsgate recently faced a creditor revolt after separating its Starz pay-TV network. A person involved in the discussions noted that WBD’s debt was raised in a lenient environment with few covenants preventing such financial engineering.
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