Warner Bros. Discovery to split
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At the end of March, Warner Bros. Discovery had gross debt of $38.0 billion, which is comprised of “total debt” ($37.4 billion) and financial leases ($535 million). The 2022 merger of WarnerMedia (owned by AT&T) and Discovery, Inc. created more than $50 billion of debt.
S&P Global downgraded the media giant's unsecured bonds, put it on a negative credit watch and will review whether to lower the company's other ratings
Monday's news that Warner Bros. Discovery is splitting into two companies has fueled chatter about which execs will end up leading the new entities.
The CEO also said that Disney+ will "probably" emulate Netflix and stop reporting subscriber numbers at some point, he noted during a CNBC appearance.
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