Overview

• Warner Bros. Discovery is carving itself into two companies by mid-2026, with its cable networks—including CNN—forming a new unit tentatively named Global Networks led by CFO Gunnar Wiedenfels.
• CNN’s new parent will absorb most of WBD’s debt burden, limiting resources for growth and setting the stage for sweeping budget cuts.
• Newsroom morale has plunged as staffers describe a “really grim” atmosphere and widespread anxiety over job security and the network’s fate.
• CNN is on track for its weakest ratings year ever among adults 25-54 and has lost about $400 million in revenue over the last three years.
• Speculation is mounting that CNN could be sold to a new owner willing to invest in it, and mass talent layoffs are expected before any transition.