On Thursday, Warner Bros. Discovery announced plans to separate its struggling cable TV businesses, including CNN, from its streaming and studio operations, such as Max. This move sets the stage for a potential sale or spinoff of its TV division as cable subscriptions continue to decline, as reported by several media reports.
Following the announcement, Warner shares surged over 15%, closing at $12.49, with the company expecting to finalise the split by mid-2025.
The restructuring will lead to the formation of a new "Global Linear Networks" division, which will include channels like CNN, TBS, and Food Network.
The "Streaming & Studios" division will consist of the Max streaming platform and Warner Bros. studios, focusing on growth and tapping into the rising demand for digital content.
The restructuring marks a turning point for the media industry, with investments in streaming platforms like Warner Bros. Discovery's Max starting to yield returns.
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