Bill Cohan joins Dylan to dissect the three-year evolution of Warner Bros. Discovery since David Zaslav’s bold 2022 merger of WarnerMedia and Discovery. He breaks down W.B.D.’s rising streaming profits, declining linear TV business, and its $19 billion debt reduction—bringing the company closer to a credit upgrade. With speculation swirling about a potential merger with NBCUniversal or Comcast’s SpinCo, Bill examines what’s next for W.B.D., the strategic loss of NBA rights, and the broader ripple effects on networks like CNN and the media landscape writ large.

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