Warner Bros. Discovery is splitting into two separate companies after the giant merger in 2022. According to a recent announcement, Warner Bros. Discovery will be turned into two publicly traded entities, one focusing on digital streaming and content production and the other on traditional TV broadcasting.
Currently undergoing a reorganisation process, the company will combine its digital streaming with film and TV studios under a single structure. Correspondingly, brands such as HBO, HBO Max, Warner Bros. Motion Picture Group, Warner Bros. Television, and DC Studios will be gathered under a single roof. These brands, known for their prominent projects and content production for digital platforms, will operate under the “Streaming & Studios” company. The management of film and series archives will also continue under this roof.
In addition, network brands such as CNN, Discovery channels, TNT Sports, and Bleacher Report will be gathered under a different roof. This new structure will operate under the name “Global Networks” and will mainly continue traditional TV broadcasts. Also, digital services such as Discovery+ will remain within Global Networks, too.
In accordance with this decision, digital content production and live television will be distinctly separated and will continue their activities under different roofs. Thus, Warner Bros. Discovery aims to benefit from tax exemptions and maximise its potential with this separation.
After the separation process, current Warner Bros. Discovery President and CEO David Zaslav will continue to work in the “Streaming & Studios” side. Gunnar Wiedenfels, the current CFO of Warner Bros. Discovery, will also be the President and CEO of the new “Global Networks” company to be established after the separation.
“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,” commented Samuel A. Di Piazza, Jr., Chair of the Warner Bros. Discovery Board of Directors. “This announcement reflects the Board’s ongoing efforts to evaluate and pursue opportunities that enhance shareholder value.”
The separation is scheduled to be completed by mid-2026.
