This is a desperation move. Warner, like many other studios fed Netflix the content to make the service that is destroying them. Then a WB had a disastrous acquisition by ATT-- admittedly made worse by a Trump grudge that held it up for years. Then an acquisition by Discovery, that added very little to WB except bad management. Destroying the HBO brand, DC, etc.
Why is this dumb? They get pennies for their assets today while they bolster the other tech giant that is going to kill them. Studios like WBD don't have the capital or the strategic vision to operate in this environment.