Warner Bros. Discovery to Split Into 2
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(Reuters) -Warner Bros Discovery will separate into two companies — one focusing on streaming and studios businesses, while the second will house entertainment, sports and news brands, it said on Monday.
Warner Bros Discovery’s credit was slashed to junk, the latest fallout from broadcasting’s collapse. Some $34 bln in net debt makes it hard to cleave CNN from HBO while satisfying both lenders and shareholders.
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