Warner Bros. Discovery’s Credit Rating Cut to Junk Status by S&P, Citing Weak Linear TV Outlook

** Warner Bros. Discovery just got some bad financial news—S&P Global Ratings downgraded its credit rating to junk status, essentially signaling that lending to the company is now riskier. The downgrade comes as S&P predicts further declines in revenue and cash flow from the company’s traditional TV business (think cable channels like CNN or TNT), which is struggling as viewers keep shifting to streaming.