Warner Bros. Discovery to Split in Two Separate Businesses
Warner Bros. Discovery announced plans Monday to split into two separate public companies: one focused on streaming and studios, and the other on cable television networks like CNN and Discovery. CEO David Zaslav will lead the streaming and studios unit, while current CFO Gunnar Wiedenfels will head the global networks arm. The split, expected to be finalized by mid-2026, comes as traditional TV continues to decline and media companies race to adapt to the streaming era.
The move is meant to give each side of the business more room to grow independently, with Zaslav stating it will provide “sharper focus and strategic flexibility” for the brands involved. The streaming and studios side will include HBO, HBO Max, DC Studios, and Warner Bros. films and TV, while the networks business will retain a minority stake in the studio arm, which it may sell later to help cut debt. Warner Bros. Discovery shares jumped over 9% after the news.
This restructuring mirrors a similar shake-up at Comcast, which is spinning off its own network assets into a new company. WBD had signaled that this move was coming as far back as December, when it began separating its streaming and cable operations. Analysts say the move could set the stage for future partnerships or even more consolidation across the industry.
