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Warner Bros Discovery moving toward splitting company, CNBC reports

The Cannes Lions International Festival of Creativity in Cannes
ERIC GAILLARD/Reuters

Warner Bros Discovery is moving toward a potential breakup, CNBC reported on Thursday, as media companies explore options for their struggling cable TV businesses and sharpen focus on their faster-growing streaming and studios divisions.

WBD shares surged more than 4% on the news, rebounding from earlier losses of nearly 6% that were triggered by a dour quarterly report.



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