The story of Warner Bros. Discovery is quickly becoming a tale of two companies — and that’s a narrative executives would really like Wall Street to hear.
The company behind the Warner Bros. studio, the HBO Max streaming service and cable networks including CNN and HGTV saw improving results for its streaming operations and production studios, even as conditions for its traditional TV networks appeared to worsen. Such reports will no doubt bolster the company’s recent decision to split itself in two. One company will house the production and streaming assets, while the other, laden with debt, will grapple with steering the cable networks into the future.
