Warner Bros. Discovery is splitting up after just over three years, and Wall Street is cheering. The spinoff will create a slew of new questions.

Back in 2022 management advisor company McKinsey told Warner Bros that the media giant should combine itself with factual production specialists Discovery. The

Warner Bros. Discovery doesn’t have a name for its planned stand-alone TV-centric biz, but it does have a proposed CEO: Gunnar Wiedenfels, WBD’s iron-fisted money manager. As CFO at Warner Bros. Discovery,

S&P Global downgraded the media giant's unsecured bonds, put it on a negative credit watch and will review whether to lower the company's other ratings