John Malone Predicts Higher Valuation for Warner Bros. Spinoff

Warner Bros. Discovery plans to split into two businesses, with one owning cable channels and the other its film and TV studios and HBO Max streaming service. Institutional investors will likely embrace the standalone studio and streaming business, which will have a higher valuation than the combined company. The split is expected to happen next year, with an option to sell a 20% stake in the studios and streaming unit to raise cash for debt repayment.