WBD Gets Junk Bond Credit Rating

[Mark Jeffries]

Despite its recent box office hits and increased streaming subscribers, S&P Credit Ratings has reduced Warner Bros. Discovery down to junk level, due to the continually ailing linear cable TV channels--it looks like Daddy Zaslav, like NBCU, may have to go the spinco route with the Turner and Discovery channels:

https://www.thewrap.com/wb-discovery-downgraded-to-junk-status/

The problem here (and frankly a potential problem with NBCU's Versant trying to sell MSNBC) is that any attempt a spinco might make to sell CNN would run into roadblocks from Trump and his stooges, like the problems Paramount is experiencing trying to merge with Skydance.