Warner Bros. Discovery is charting a course similar to Comcast/NBC Universal. The company announced today a major restructuring to form a distinct global linear TV division, as reported by The Hollywood Reporter. This move lays the groundwork for WBD to potentially phase out certain linear TV networks, which could help reduce its substantial debt load.

“Following the merger that created Warner Bros. Discovery, we’ve reshaped our operations and strengthened our financial standing while continuing to deliver top-notch entertainment worldwide,” stated WBD president and CEO David Zaslav (via THR). “Our focus remains on ensuring our global linear networks can sustain free cash flow, while our streaming and studios divisions strive to grow by producing the most engaging stories globally. Our restructured corporate framework better aligns with our organization and increases our adaptability for future strategic ventures within the changing media landscape, aiding us in maintaining our momentum and exploring all options to enhance shareholder value significantly,” he added.

Indeed, the pursuit of enhancing shareholder value is a critical goal in any creative sector. For those who still cherish linear television, the current trend may be somewhat unsettling. The reality is that many are opting out of traditional cable subscriptions in favor of numerous streaming platforms that vie for their attention and funds.

The newly formed linear networks division at WBD will encompass networks such as CNN, TNT, TBS, and Discovery Channel. The restructuring is slated for completion by mid-2025. For now, this division will remain under the WBD corporate umbrella, contrary to Comcast’s approach. As Business Insider notes, unlike Comcast, divesting cable channels may not be advantageous for WBD due to its reliance on the revenue from these channels to manage the significant debt incurred from forming the company. However, this arrangement does set the stage for potential deals involving its channels, with Paramount Global or Comcast viewed as probable partners for mergers.