Warner Bros. Discovery will split into two separate companies
- Share via
Warner Bros. Discovery is dividing its assets into two separate publicly traded companies, the media conglomerate announced Monday.
The move will put the company’s iconic movie studio, prestige TV operation, HBO and HBO Max and DC Studios into a single entity known as Streaming & Studios. Cable channels CNN, TNT, Discovery and over-the-air networks internationally will operate under the banner of Global Networks.
The split is aimed at attracting investors in the company’s growing streaming business without exposure to the mature traditional TV business, which is in decline. The transaction is expected to be done by mid-2026.
“By operating as two distinct and optimized companies in the future, we are empowering these iconic brands with the sharper focus and strategic flexibility they need to compete most effectively in today’s evolving media landscape,” Warner Bros. Discovery Chief Executive David Zaslav said in a statement.
HBO Max became simply Max in 2023. Now Warner Bros. Discovery is going back to basics and reclaiming a brand long associated with high-quality programming.
Zaslav will head Streaming & Studios. Gunnar Wiedenfels, chief financial officer of Warner Bros. Discovery, will serve as president and CEO of Global Networks. Both will continue in their present roles at WBD until the separation.
Zaslav has hinted at the split since Comcast announced it was putting MSNBC, CNBC, the Golf Channel, USA Network and other outlets into a new company called Versant, separating the mature businesses from the rest of the company as it focuses on streaming.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
