Warner Bros. Discovery to split
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The studio and cable conglomerate that David Zaslav created couldn’t overcome outside forces and massive debt.
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.
On Tuesday, investor Ross Gerber criticized Warner Bros. Discovery WBD CEO David Zaslav for his leadership, calling the company's planned split into two independent public companies a result of a ...
The entertainment company is expected to become one of the first borrowers to restrict creditors from forming cooperation groups.
Credit ratings agency Fitch Ratings on Wednesday downgraded Warner Bros Discovery to junk status following the company's announced split-up earlier this week, as investors weigh the deal's likely impact on holders of its debt.