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Warner Bros. Discovery to Split Into Two Companies
Warner Bros. Discovery said it would split into two publicly traded companies, one focused on streaming and the other on traditional TV
“By operating as two distinct and optimized companies in the future, we are empowering these iconic brands with the sharper focus and strategic flexibility they need to compete most effectively in today’s evolving media landscape,” Zaslav said in a statement. That company is breaking up NBCUniversal, with plans to place the bulk of its cable networks in a new publicly-traded spinoff called Versant while keeping its broadcast and streaming assets under the better-known entity, NBC. Warner recently lost long-held rights to televise NBA games, a contract that gave its networks a major sporting franchise that drew large crowds on the regular.
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