Earlier this month, when David Zaslav announced he would divorce Warner Bros. Discovery’s growing-ish studios and streaming business from its cable assets, there was panic aplenty. In Hollywood, the creative community feared that an historic studio would become enfeebled without the sustenance of an EBITDA-rich, if declining, cable networks business. And in the cable industry, there was a looming fear that these zombie networks were headed on a journey into irrelevance. Was CNN going to crumble into Cheddar? Could the old Discovery nets be weighted into oblivion by My 600-lb Life, 1000-lb Sisters, and 1000-lb Roomies—all of which are real shows, by the way.
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