Confusion over how the media giant plans to restructure its debt following a spinoff of cable channels like CNN and TNT have rattled the market for its bonds.

Warner Bros. Discovery on Monday announced a plan to separate into two independent public companies. The move creates a streaming giant and a separate company for its global networks.

Warner Bros. Discovery's upcoming split will impact investors, and there are three key risks that could hinder stock growth. Read more on the overview of WBD's breakup.