Reported about 7 hours ago
Bondholders of Warner Bros Discovery have approved a plan to split the company into two publicly traded entities, separating its studios and HBO Max from its declining cable networks. This move includes restructuring the company’s capital and buying back a significant portion of its $37 billion debt from its 2022 merger. However, concerns remain over the risks faced by bondholders tied to the declining cable business, especially after recent credit rating downgrades to junk status.
Source: YAHOO