A major change that we reported last year is now official as Warner Bros. Discovery (WBD) has announced they are splitting into two separate companies. Deadline reports that the move, led by CEO David Zaslav, comes after the company already reorganized its business into two groups: Streaming & Studios and Global Networks. Now, that reorganization is becoming a full split, similar to what Comcast is doing with NBCUniversal’s cable networks.
- David Zaslav will lead the new Streaming & Studios company.
- Gunnar Wiedenfels, the current CFO, will become president and CEO of Global Networks.
- Both men will keep their current jobs at WBD until the split is finished, which is expected by mid-2026.
Zaslav said, “The cultural significance of this great company and the impactful stories it has brought to life for more than a century have touched countless people all over the world. It’s a treasured legacy we will proudly continue in this next chapter of our celebrated history.” He added, “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.”
Wiedenfels said, “This separation will invigorate each company by enabling them to leverage their strengths and specific financial profiles. This will also allow each company to pursue important investment opportunities and drive shareholder value.” He also explained, “At Global Networks, we will focus on further identifying innovative ways to work with distribution partners to create value for both linear and streaming viewers globally while maximizing our network assets and driving free cash flow.”
Samuel A. Di Piazza, Jr., chair of WBD’s board, said, “We committed to shareholders to identify the best strategy to realize the full value of our exciting portfolio of assets, and the Board believes this transaction is a great outcome for WBD shareholders. This announcement reflects the Board’s ongoing efforts to evaluate and pursue opportunities that enhance shareholder value.”
- Streaming & Studios will include Warner Bros Television, Warner Bros Motion Picture Group, DC Studios, HBO, HBO Max, and their film and TV libraries.
- Global Networks will have top entertainment, sports, and news TV brands like CNN, TNT Sports in the U.S., Discovery, leading European channels, and digital products such as Discovery+ and Bleacher Report.
The media world is changing fast. More people are streaming shows and movies, while traditional TV is losing viewers quicker than expected. This has made investors nervous and hurt stock prices. Companies like Comcast and Lionsgate are also splitting up their businesses to keep up and stay competitive.
The idea is that cable network groups, which still make a lot of money, could be sold or merged with other companies. This could lead to more deals and changes in the media industry.
WBD says splitting into two companies will:
- Help each business move faster and focus on what they do best.
- Allow each company to have its own management team and strategy.
- Make it easier for each company to attract investors who believe in their specific goals.
- Create more chances for both companies to grow and succeed.
WBD also says the split should be tax-free for U.S. federal income tax purposes. After the split, the new companies will work together on certain services and agreements to make the transition smooth and keep things running well.
This big move shows how quickly the media landscape is changing, and Warner Bros. Discovery is making sure it’s ready for whatever comes next.
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English (US) · 