Latest news with #DiscoveryInc
Bloomberg
5 days ago
- Business
- Bloomberg
Warner Bros. Wins Support From Bondholders for Debt Overhaul
Warner Bros. Discovery Inc. said it won enough support from creditors to overhaul its debt as part of a plan to split the entertainment giant into two separate companies. It became clear toward the end of last week that the company would likely achieve sufficient backing from creditors to move forward with the debt retooling. Support was over 90% for some portions of its debt as of the close of business on Friday, according to a statement on Monday.
Bloomberg
11-06-2025
- Business
- Bloomberg
Warner Bros. Says to Settle Buyback, Consent Solicitation Early
Warner Bros. Discovery Inc. intends to exercise its right to settle its bond buyback and consent solicitation early, on June 30, for investors that have agreed to sell some of their bonds to the company and change covenants on the other securities, according to a company filing.
Bloomberg
09-06-2025
- Business
- Bloomberg
Zaslav Reverses Course on Merger That Lost $40 Billion in Value
Just three years after arguing that the best way to boost the value of Warner Media and Discovery Inc. was to combine their assets, Chief Executive Officer David Zaslav is now saying that the real key to unlocking their potential worth is to split them apart. The stock has declined about 60% since that merger was completed in April 2022, wiping out some $40 billion from the company's market value.
Bloomberg
09-06-2025
- Business
- Bloomberg
Warner Bros. Eyes Mid 2026 For Full Separation
Warner Bros. Discovery Inc. is splitting itself in half, unshackling its fast-growing streaming business from the struggling legacy media channels and setting up two independent companies that could pursue deals on their own. Bloomberg's Felix Gillette has more on the story. (Source: Bloomberg)
Bloomberg
20-05-2025
- Business
- Bloomberg
Warner Bros. Discovery Downgraded to Junk by S&P
The media and entertainment company Warner Bros. Discovery Inc was downgraded to below investment grade by S&P Global Ratings, according to a report on Tuesday. The issuer credit rating was lowered to BB+, one notch below investment-grade's lowest rung of BBB-. The downgrade to junk status was largely the result of continued revenue and cash flow declines at its linear television business, S&P said. The ratings agency expects leverage to rise to 4.3 times at the end of 2025, significantly higher than 3.5 times leverage threshold for investment-grade ratings. A cut to junk level can dramatically boost a company's borrowing costs.
