Warner Bros. Discovery Plans Bold Split into Two Giants
Warner Bros. Discovery is set to divide into two public companies, splitting its cable and streaming operations. The separation will see 'Streaming & Studios' include entities like HBO, while 'Global Networks' will encompass CNN and TNT Sports. The separation is slated for completion by mid-next year.
Warner Bros. Discovery is embarking on a strategic division to form two distinct public companies, a move expected to redefine its operational and market dynamics. By mid-next year, the media conglomerate plans to separate its cable business from its burgeoning streaming service.
The newly formed Streaming & Studios division will be a powerhouse of entertainment, encompassing Warner Bros. Television, Motion Picture Group, DC Studios, as well as HBO and HBO Max. The separation will also include their extensive film and television libraries, ensuring a robust lineup for audiences.
Global Networks will integrate CNN, TNT Sports in the US, and free-to-air channels across Europe, alongside digital platforms such as Discovery+ and Bleacher Report. CEO David Zaslav and CFO Gunnar Wiedenfels will lead the respective new entities, maintaining their roles through this transition.
(With inputs from agencies.)
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