Warner Bros. Discovery stock has surged 30% recently, but it's imperative to consider risks in streaming, theatrical releases, and legacy networks. Read more here.

Warner Bros. Discovery Inc. a global media and entertainment company, announced that its Board of Directors authorized the Company to implement a new corporate structure designed to enhance its strategic flexibility and create potential opportunities to unlock additional shareholder value.

On Dec. 12, shares of media giant Warner Bros. Discovery (NASDAQ: WBD) rallied over 15%. This immense gain was due to an announcement that the firm will restructure its business, which offers several key potential benefits.

Valued at a market cap of $25.7 billion, Warner Bros. Discovery, Inc. (WBD) is a media and entertainment company which creates and distributes a portfolio of content and brands across television, film and streaming.