After another poor showing in the third quarter, Molson Coors (NYSE: TAP) has come to the same realization many other brewers have: Beer doesn't sell anymore -- particularly as it's been taken over by new beverage innovations, most notably hard seltzer.
But unlike the others, Molson is undergoing a major restructuring to meet this new reality, swapping out businesses into more manageable components and aggressively going after new markets that are decidedly not beer.
Beer hasn't given Molson Coors much to cheer lately, so it will be heading in a new direction. Image source: Molson Coors.