After months of market speculation, Warner Brothers Discovery announced yesterday that it will explore the sale of its media holdings.
The announcement is significant. CEO, David Zaslav, had his own plan to bifurcate its cable and streaming services and reportedly dismissed a previous offer. Given Warner Bros’ announcement, we now know that the company is for sale and Zaslav’s division of content is less likely. This should comfort investors, since Warner Bros. has faced significant financial headwinds.
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