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Warner Bros. Discovery restructures to split up streaming and cable businesses
The move could help silo Max from linear TV’s struggles.
Over the summer, rumors suggested that WBD planned on severing its streaming business from its legacy networks completely, freeing Max from the company’s mountain of debt. The company’s linear networks have been struggling for a while now, with WBD taking a $9.1 billion writedown on its channels in August after TNT lost live NBA games to Amazon Prime Video. WBD will move forward with the “foundational steps” of the new structure now, which CEO David Zaslav said will open up “potential future strategic opportunities across an evolving media landscape.”
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