Warner Bros Discovery Sets Stage For Potential Cable Deal By
149.00 £
Published date: 2024/12/30
- Location: 100283, Arizona, United States
Shares jump 13% after reorganizing announcement
Follows path taken by Comcast's brand-new spin-off company
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Challenges seen in offering debt-laden direct TV networks
(New throughout, adds details, background, remarks from industry experts and experts, updates share prices)
By Dawn Chmielewski, Deborah Mary Sophia and Aditya Soni
Dec 12 (Reuters) - Warner Bros Discovery on Thursday decided to separate its declining cable television TV services such as CNN from streaming and studio operations such as Max, preparing for a prospective sale or spinoff of its TV organization as more cable television subscribers cut the cord.
Shares of Warner jumped after the company said the new structure would be more deal friendly and it anticipated to finish the split by the middle of 2025. Warner shares closed at $12.49, up more than 15%.
Follows path taken by Comcast's brand-new spin-off company
*
Challenges seen in offering debt-laden direct TV networks
(New throughout, adds details, background, remarks from industry experts and experts, updates share prices)
By Dawn Chmielewski, Deborah Mary Sophia and Aditya Soni
Dec 12 (Reuters) - Warner Bros Discovery on Thursday decided to separate its declining cable television TV services such as CNN from streaming and studio operations such as Max, preparing for a prospective sale or spinoff of its TV organization as more cable television subscribers cut the cord.
Shares of Warner jumped after the company said the new structure would be more deal friendly and it anticipated to finish the split by the middle of 2025. Warner shares closed at $12.49, up more than 15%.
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