Warner Bros. Discovery Inc. shares rose on Thursday after the Financial Times reported it’s considering separating its streaming and studio businesses from legacy TV, one of several options that could be deployed to boost its share price.
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Warner Bros. shares rose 3.9 per cent to $8.64 at 9:55 a.m. in New York. They are still down 24 per cent this year. Warner Bros. declined to comment on the FT report. Warner Bros., the parent of CNN, HBO and other channels, was formed in 2022 via the merger of AT&T Inc.’s WarnerMedia and Discovery Inc. The deal created a company weighed down with debt at a time when cable TV, its largest business, was hemorrhaging viewers and advertising dollars.
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