Warner Bros. Discovery to split
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Just three years after arguing that the best way to boost the value of Warner Media and Discovery Inc was to combine their assets, chief executive officer David Zaslav now says that the real key to unlocking their potential worth is to split them apart.
David Zaslav, movie mogul at last. Zaslav's vision board, which includes him sitting behind Jack Warner's old desk and living in Robert Evans' former home, is complete. On Monday, we finally got the news we were waiting for: Warner Bros.
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.
Hours after David Zaslav announced Warner Bros. Discovery was spinning off its networks business, Chuck Lorre has tabled a bid. The Big Bang Theory co-creator jokingly offered to buy the business, which includes networks such as CNN,
Warner Bros. Discovery is splitting up after just over three years, and Wall Street is cheering. The spinoff will create a slew of new questions.
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