BREAKINGVIEWS-Warner Bros Discovery re-enters the spin zone
The author is a Reuters Breakingviews columnist. The opinions expressed are her own.
By Jennifer Saba
NEW YORK, Dec 12 (Reuters Breakingviews) - Boss David Zaslav engorged his media empire by merging with a rival’s broken-off business. Corporate restructuring sets him up to reverse the trick. A full roster of bank advisers and moves by peers imply dying TV networks are due a reshuffle. Doing so could add $20 bln of value.
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CONTEXT NEWS
Warner Bros Discovery on Dec. 12 announced that it would adopt a new corporate structure aligned into two divisions. Streaming & Studios will include its film and entertainment production, as well as streaming platforms like HBO. Global Linear Networks will house its traditional television networks.
Shares of the company, which owns cable channels including, CNN, the Food Network and TNT, rose over 15% following the announcement.
WBD retained JPMorgan, Evercore and Guggenheim Securities as financial advisers.
(Editing by Jonathan Guilford and Pranav Kiran)
((For previous columns by the author, Reuters customers can click on SABA/jennifer.saba@thomsonreuters.com))
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