"Warner Bros Discovery has slashed the estimated value of its television channels by more than $9bn (£7.1bn) in a sign of the looming death of traditional TV.
The US media giant, which owns channels including CNN, Food Network and TNT Sports, said its network division was now worth $9bn less than previously thought.
Analysts suggested that the write-down was a sign that the decline of traditional television was accelerating.
Industry watcher Alex DeGroote said it “signals the decline in linear is now accelerating much quicker than we all expected”.
He added: “This is not just a cyclical decline, but a structural reset in media valuations.”"
HT to the DT.