Warner Bros. Discovery to split
Digest more
Top News
Overview
Impacts
At the end of March, Warner Bros. Discovery had gross debt of $38.0 billion, which is comprised of “total debt” ($37.4 billion) and financial leases ($535 million). The 2022 merger of WarnerMedia (owned by AT&T) and Discovery, Inc. created more than $50 billion of debt.
The film and television giant will turn its cable networks, including CNN and TNT, into one company and its streaming and studios business into another.
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 .
Paramount's job cuts are just the latest to hit the beleaguered media industry, which has recently seen staff reductions at Disney and Warner Bros. Discovery.
The CEO also said that Disney+ will "probably" emulate Netflix and stop reporting subscriber numbers at some point, he noted during a CNBC appearance.