Official announcements from Warner Bros. Discovery or major financial news outlets

Warner Bros. Discovery Restructures Under CEO David Zaslav, Separating Cable TV (CNN, TNT) from Streaming by Mid-2025; Stock Surges 15%

Dec 13, 2024, 04:20 AM

Warner Bros. Discovery (WBD) announced a significant restructuring of its business on December 12, 2024, which involves separating its declining cable television operations from its streaming and studio divisions. This move is aimed at adapting to changing consumer behaviors and potentially setting the stage for mergers and acquisitions in the coming year. The company, led by CEO David Zaslav, is responding to the ongoing trend of cord-cutting, which has pressured traditional cable networks like CNN and TNT. Following the announcement, Warner Bros. Discovery's stock surged by 15%, reflecting investor optimism about the strategic shift. The restructuring is expected to be completed by mid-2025.