CNN and HBO owner Warner Bros Discovery announces breakup plan

Shares jump 9% before market open as cable operations to be separated from movie studios

Warner Bros Discovery, the mega media conglomerate behind Hollywood movie studios and a string of TV networks, from HBO to CNN, has announced plans to break into two companies in a bid to revive its fortunes.

The group will separate Warner Bros, the DC Studios comic book franchise, its Max streaming service and HBO, the premium cable network behind hit series including The Last Of Us, Game of Thrones and Succession, away from its other linear TV networks, which include CNN, Discovery