Warner Bros. Discovery’s move follows the path Comcast took last month when it announced plans to restructure and split most of its NBCUniversal cable networks into a new public company|Warner Bros. Discovery|CC BY-SA 4.0

Warner Bros. Discovery unveiled plans yesterday to split its TV networks, like CNN and TNT, from studio and streaming businesses amid growing cord-cutting. The announcement sent the company’s shares rallying as much as 16% to the highest level since late 2023.

The move may allow the company to explore other strategies, such as a spin-off or acquisition of its struggling TV business. WBD’s move follows the path Comcast took last month when it announced plans to restructure and split most of its NBCUniversal cable networks into a new public company.