Warner Bros. Discovery, Inc. (NasdaqGS:WBD) will be divided into two separately traded public companies, one focused on the fast-growing streaming assets and film studios, and the other housing the struggling legacy cable TV channels. Just three years after arguing that the best way to boost the value of Discovery and Warner Media was to combine their assets, chief executive officer David Zaslav is now saying it is best to split them apart.
The stock has declined about 60pc since that merger was completed in April 2022, wiping some $40 billion (EUR 35 billion) from the company's market value.
