Warner Bros. Discovery, the parent company of CNN and HBO, announced that it’s open to a sale, leaving its news and streaming subsidiaries’ futures uncertain.
The media conglomerate previously announced a plan to split into two companies — cleaving its entertainment offerings, including the Warner Bros. film studio and the HBO Max streaming service, from its sports and news programming. It says it has decided to explore sale opportunities after receiving bids….
…
In recent years, CNN has seen numerous ownership changes and reorganizations, as interest in cable television declines. The broadcast giant, which has struggled with declining ratings and a failed streaming service in recent years, laid off 6 percent of its staff in January in a move it said would allow it to expand digital operations….
…
CNBC reported Tuesday that both Netflix and Comcast, which owns NBCUniversal, are also “interested parties.” Comcast is in the process of spinning off its cable networks, including MSNBC, from NBC and the rest of the company….
….
Consumers could be hurt by fewer options. “Bigger is better might be good for shareholders, but will consumers ultimately benefit with better-quality content, lower prices and accessibility?” Proulx added. “It all depends on if a sale happens but, more importantly, who ends up buying WBD.”…
Leave a Reply
You must be logged in to post a comment.