*Courtesy of Ethan Miller/Getty Images.*

On Monday, Warner Bros. Discovery officially announced its plan to split into two independent, publicly traded companies through a tax-free transaction aimed at helping each division reach its full potential.

One of the new entities, named Streaming & Studios, will include Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO, and HBO Max, along with their extensive film and television archives. The second company, Global Networks, will encompass a range of entertainment, sports, and news channels such as CNN, TNT Sports (U.S.), and Discovery. It will also include free-to-air networks across Europe and digital platforms like the successful Discovery+ streaming service and Bleacher Report (B/R).

David Zaslav, currently the president and CEO of Warner Bros. Discovery, will lead Streaming & Studios as its president and CEO. Gunnar Wiedenfels, the company's CFO, will head Global Networks in the same capacity. Both executives will retain their current roles at Warner Bros. Discovery until the separation is completed.

The split is to be completed by mid-2026, says the conglomerate: “Subject to closing and other conditions, including final approval by the Warner Bros. Discovery board, receipt of tax opinions and/or a private letter ruling from the Internal Revenue Service with respect to the tax-free nature of the transaction for U.S. federal income tax purposes, and market conditions.”

Zaslav added: “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 continued: “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.”

TRENDING NEWS