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Warner Bros Discovery splits streaming from cable TV in latest media shakeup

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Warner Bros Discovery said it would split into two publicly traded companies, separating its studios and streaming business from its fading cable television networks as the parent of HBO and CNN looks to compete better in the streaming era.
Warner Bros. Discovery has announced a strategic restructuring that separates its streaming services from its traditional cable TV operations, marking a significant shift in the media landscape. This move, effective immediately, aims to streamline operations and better position the company to compete in the rapidly evolving entertainment industry. The streaming division will now operate independently, focusing on enhancing its direct-to-consumer offerings like Max and Discovery+, while the cable TV segment will continue to manage networks such as CNN, TNT, and TBS. This restructuring comes amidst broader industry trends towards digital consumption and follows similar strategic shifts by other major media companies. The reorganization is expected to lead to cost savings and improved profitability, though specific financial impacts have not yet been detailed.

Read the Full Reuters Article at:
[ https://www.msn.com/en-us/money/companies/warner-bros-discovery-splits-streaming-from-cable-tv-in-latest-media-shakeup/ar-AA1Gnvm1 ]