Warner Bros Discovery Reportedly Mulls Splitting Company to Boost Stock Price

FILE PHOTO: The Hollywood sign is seen in Hollywood, Los Angeles, California, US October 19, 2017. REUTERS/Lucy Nicholson/File Photo
FILE PHOTO: The Hollywood sign is seen in Hollywood, Los Angeles, California, US October 19, 2017. REUTERS/Lucy Nicholson/File Photo
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Warner Bros Discovery Reportedly Mulls Splitting Company to Boost Stock Price

FILE PHOTO: The Hollywood sign is seen in Hollywood, Los Angeles, California, US October 19, 2017. REUTERS/Lucy Nicholson/File Photo
FILE PHOTO: The Hollywood sign is seen in Hollywood, Los Angeles, California, US October 19, 2017. REUTERS/Lucy Nicholson/File Photo

Warner Bros Discovery has discussed a plan to split its digital streaming and studio businesses from its legacy television networks as the US media giant weighs options for boosting its sagging share price, the Financial Times reported on Thursday.

The company’s chief executive David Zaslav was examining several strategic options, the report said, citing people familiar with the matter.

WBD did not immediately respond to a Reuters request for comment.

Options range from selling assets, to separating its Warner Bros movie studio and Max streaming service into a new company that is unburdened by most of the group's current debt load, FT said.

WBD's top management has been talking to advisers to find a solution in shareholders' best interest but it is yet to hire an investment bank to initiate any specific transaction, FT said.



Selena Gomez Gets Her Due, Netflix and FX Top HBO and 2 Queen Elizabeths Get Nominated for Emmys

 This image released by Hulu shows, from left, Selena Gomez, Martin Short and Steve Martin in a scene from "Only Murders in the Building." (Patrick Harbron/Hulu via AP)
This image released by Hulu shows, from left, Selena Gomez, Martin Short and Steve Martin in a scene from "Only Murders in the Building." (Patrick Harbron/Hulu via AP)
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Selena Gomez Gets Her Due, Netflix and FX Top HBO and 2 Queen Elizabeths Get Nominated for Emmys

 This image released by Hulu shows, from left, Selena Gomez, Martin Short and Steve Martin in a scene from "Only Murders in the Building." (Patrick Harbron/Hulu via AP)
This image released by Hulu shows, from left, Selena Gomez, Martin Short and Steve Martin in a scene from "Only Murders in the Building." (Patrick Harbron/Hulu via AP)

With less overall entries due to the shortened TV season, this year's Emmy nominations probably won't spark any protest campaigns. The folks at FX should be popping bottles though for a stand-out year, with 93 nominations — including 25 nods for "Shogun" and 23 for "The Bear."

The nominations bring overdue acknowledgement for critical favorites like FX's "Reservation Dogs" and "What We Do in the Shadows" and fresh competition, including "Shogun" actors Anna Sawai and Hiroyuki Sanada.

Lily Gladstone and Kali Reis became the first female Indigenous actors to be nominated for Emmys — Gladstone for "Under the Bridge" and Reis for "True Detective: Night Country." "Reservation Dogs" was nominated in the best comedy series category, for what is its final season. D’Pharaoh Woon-A-Tai of "Reservation Dogs," will compete for lead actor in a comedy.

The Emmy Awards show will be held Sept. 15 at the Peacock Theater in Los Angeles and air on ABC.

Here are other talking points, "snubs" and surprises from the Emmy nominations:

Competition for HBO

This year, HBO didn't have "Succession" or "The White Lotus" to bolster its Emmy nominations count, giving Netflix and FX an edge. Netflix leads with 107 nominations for programs including "Baby Reindeer" and "Ripley." FX comes in second, thanks in part to the continued roar of "The Bear" and newcomer "Shogun." HBO has 91 nominations. Even without "Ted Lasso," Apple TV+ also did well with 70 nods including for "The Morning Show" and "Slow Horses."

Justice for Selena

Hulu's "Only Murders in the Building" is a three-hander comedic mystery starring Steve Martin, Martin Short and Selena Gomez. Until now, Emmy voters have acknowledged only Martin and Short in the best actor category. That changed Wednesday morning, with Gomez receiving a best actress nomination. She will compete against Quinta Brunson, Ayo Edebiri, Maya Rudolph, Jean Smart and Kristin Wiig.

"The Morning Show" wakes up

Emmy voters "The Morning Show" on Apple TV+ has always included current events in storylines, but the series about behind-the-scenes drama at a TV network took it up a notch with its third season, earning it its first Emmy nomination for outstanding drama.

The show's 10 episodes tackled topics including the hacking of a corporation, a media merger and fallout from the Jan. 6 insurrection in Washington.

Jennifer Aniston and Reese Witherspoon are both up for lead actress. Jon Hamm joins 2020 winner Billy Crudup and previous nominee Mark Duplass in the supporting actor category. "The Morning Show" also dominates the supporting actress field with nominations for Nicole Beharie, Greta Lee, Karen Pittman and Holland Taylor.

Emmy nods and a snub for Oscar winners

Emma Stone, the best actress winner at this year's Oscars for "Poor Things," did not get nominated for Showtime's "The Curse." Stone was mentioned in a number of predictions as a possible lead actress contender. The show itself was also overlooked in the drama series category.

Her fellow 2024 Oscar winners had better luck.

Robert Downey, Jr., who won the supporting actor Oscar for "Oppenheimer," is nominated in the supporting actor category for HBO’s "The Sympathizer." He plays four characters in the spy drama.

Da'Vine Joy Randolph, who took home the best supporting actress Oscar for "The Holdovers," is also now an Emmy nominee. Randolph is nominated in the guest actress category for an appearance on "Only Murders in the Building."

2 out of 3 Queen Elizabeths get a nomination

Claire Foy, whose portrayal of Queen Elizabeth II in "The Crown" earned her a lead actress Emmy Award in 2018 and a guest actress Emmy in 2021, is now nominated again for a guest spot. Foy appeared in the final episode of the series as Imelda Staunton's Queen Elizabeth II pondered abdicating the throne.

Olivia Colman, who portrayed the queen in the third and fourth seasons, also made an appearance in the same episode but was not nominated. This isn't due to a snub, however, but a technicality where Colman didn't meet the nomination qualifications. She wasn't on camera long enough. Staunton, by the way, is nominated for best actress.