CNN
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Warner Bros. Discovery, CNN's parent company, announced Thursday that it will establish a new corporate structure that will separate the cable network from its growing streaming business.
The restructuring isn't a spinoff of cable assets like Comcast recently announced, but it could end up having the same effect.
Warner Bros. Discovery has two separate business units: Global Linear Networks for CNN, TBS, TNT and other cable networks, and Streaming & Studios for Max and the company's film and entertainment studios.
The company said the changes will take effect by mid-2025. Shares of Warner Bros. Discovery (WBD) rose 11% following the restructuring announcement.
The new structure will give Warner Bros. Discovery greater flexibility for potential future strategic opportunities across the evolving media landscape, CEO David Zaslav said in a press release.
Wall Street analysts are anticipating merger and acquisition activity across cable TV industry deals in the streaming era, especially as President-elect Donald Trump takes office with a promise of deregulation.
This is a developing story and will be updated.
