Warner Bros' Strategic Shake-up and Indian Film Scandal

Warner Bros Discovery is restructuring its operations by splitting cable TV from streaming and studio functions, preparing for a possible sale. The move follows a decline in cable TV subscriptions. Meanwhile, Indian actor Allu Arjun was arrested following a fan-related tragedy at his film's premiere.

Warner Bros Discovery is taking strategic steps to revamp its business model, opting to separate its underperforming cable TV divisions, like CNN, from its increasingly popular streaming and studio sectors, such as Max. This restructuring aims to position the company for a potential sale or spinoff as traditional cable continues to lose subscribers.

The announcement, made on Thursday, sent Warner's stocks soaring, with shares surging more than 15% to close at $12.49. The company expects to complete this separation by mid-2025, setting the stage for what it calls a 'deal-friendly' structure.

In a separate development, Allu Arjun, a leading actor in the Telugu film industry, was arrested in southern India. The arrest follows an incident at his film premiere in Hyderabad, where a fan died, and another was injured in a crowd crush caused by his surprise appearance. The episode highlights the intense fan culture in India's southern states.

(With inputs from agencies.)