Warner Bros. Discovery to split CNN, TNT
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Hours after CEO David Zaslav announced Warner Bros. Discovery was spinning off its networks business, Chuck Lorre joked he has submitted a bid.
Warner Bros. Discovery is splitting into two separate publicly traded companies – one oriented around the HBO Max streaming service and Warner Bros. studio, and the other around CNN and other television networks.
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.
Though the new year has almost passed its first full fiscal quarter, media layoffs across the entertainment industry have continued to bleed over from last year’s avalanche of job cuts. The unfortunate trend can still be felt following the COVID-19 pandemic,
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