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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
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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.

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‘Beetlejuice Beetlejuice’ Scares Off 'Transformers' for 3rd Week as Box Office No. 1

Michael DeLuca, from top left, Catherine O'Hara, Monica Bellucci, Tim Burton, Michael Keaton, Jenna Ortega, Winona Ryder, Arthur Conti, Amy Nuttall, Burn Gorman, Alfred Gough, Miles Millar, Tommy Harper, from bottom left, Justin Theroux, Pamela Abdy, and Willem Dafoe arrive at the premiere of "Beetlejuice Beetlejuice" on Thursday, Aug. 29, 2024, in London. (Photo by Scott Garfitt/Invision/AP)
Michael DeLuca, from top left, Catherine O'Hara, Monica Bellucci, Tim Burton, Michael Keaton, Jenna Ortega, Winona Ryder, Arthur Conti, Amy Nuttall, Burn Gorman, Alfred Gough, Miles Millar, Tommy Harper, from bottom left, Justin Theroux, Pamela Abdy, and Willem Dafoe arrive at the premiere of "Beetlejuice Beetlejuice" on Thursday, Aug. 29, 2024, in London. (Photo by Scott Garfitt/Invision/AP)
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‘Beetlejuice Beetlejuice’ Scares Off 'Transformers' for 3rd Week as Box Office No. 1

Michael DeLuca, from top left, Catherine O'Hara, Monica Bellucci, Tim Burton, Michael Keaton, Jenna Ortega, Winona Ryder, Arthur Conti, Amy Nuttall, Burn Gorman, Alfred Gough, Miles Millar, Tommy Harper, from bottom left, Justin Theroux, Pamela Abdy, and Willem Dafoe arrive at the premiere of "Beetlejuice Beetlejuice" on Thursday, Aug. 29, 2024, in London. (Photo by Scott Garfitt/Invision/AP)
Michael DeLuca, from top left, Catherine O'Hara, Monica Bellucci, Tim Burton, Michael Keaton, Jenna Ortega, Winona Ryder, Arthur Conti, Amy Nuttall, Burn Gorman, Alfred Gough, Miles Millar, Tommy Harper, from bottom left, Justin Theroux, Pamela Abdy, and Willem Dafoe arrive at the premiere of "Beetlejuice Beetlejuice" on Thursday, Aug. 29, 2024, in London. (Photo by Scott Garfitt/Invision/AP)

It’s a three-peat for “Beetlejuice Beetlejuice.”
The Tim Burton legacy sequel to his 1988 horror comedy topped the North American box office charts for the third straight weekend with $26 million in ticket sales, according to studio estimates Sunday.
It edged out the animated new release “Transformers: One,” which brought in $25 million. The Optimus Prime origin story from Paramount Pictures features the voices of Chris Hemsworth, Brian Tyree Henry and Scarlett Johansson.
“Beetlejuice Beetlejuice,” a Warner Bros. release with Michael Keaton and Winona Ryder returning as stars, has earned more than $226 million domestically in its three weeks after a monster opening of $110 million — the third best of the year — and a second weekend of $51.6 million, The Associated Press reported.
Third place went to the James McAvoy horror “Speak No Evil,” which came in at $5.9 million in its second week for a total of $21.5 million.
On the whole, the box office was in a quiet phase that is expected to break when “Joker: Folie à Deux” dances its way onto the big screen on Oct. 4.
The year’s second-highest grosser “Deadpool & Wolverine” remained in the top 5 in its ninth weekend with another $3.9 million and a domestic total of $627 million. Only Pixar's “Inside Out 2” has earned more.
The Demi Moore-starring, Coralie Fargeat-directed body horror “The Substance," which made a splash at the Cannes Film Festival, brought in $3.1 million on limited screens in its first weekend for the sixth spot.
The Daily Wire movie “Am I Racist?” — in which conservative columnist Matt Walsh goes undercover as a “DEI trainee” — stayed in the top 10 after a fourth place finish last week, earning $2.9 million for seventh place and a two-week total of $9 million.
Estimated ticket sales for Friday through Sunday at US and Canadian theaters, according to Comscore. Final domestic figures will be released Monday.