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Why Warner Boss Zaslav Is Having to Split Up the Media Empire He Built
The studio and cable conglomerate that David Zaslav created couldn’t overcome outside forces and massive debt.
David Zaslav just threw in the towel on his WBD experiment — and Wall Street is thrilled
Warner Bros. Discovery is splitting up after just over three years, and Wall Street is cheering. The spinoff will create a slew of new questions.
“Majority” of Warner Bros. Discovery’s $37 Billion in Debt Will Be Spun Off With TV Networks, Its CEO Says
At the end of March, Warner Bros. Discovery had gross debt of $38.0 billion, which is comprised of “total debt” ($37.4 billion) and financial leases ($535 million). The 2022 merger of WarnerMedia (owned by AT&T) and Discovery, Inc. created more than $50 billion of debt.
Warner Bros. Discovery to Split Into Two Companies
The film and television giant will turn its cable networks, including CNN and TNT, into one company and its streaming and studios business into another.
Warner Bros' credit rating downgraded to junk by Fitch on split-up
Credit ratings agency Fitch Ratings on Wednesday downgraded Warner Bros Discovery to junk status following the company's announced split-up earlier this week, as investors weigh the deal's likely impact on holders of its debt.
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