Warner Bros. Discovery, the media giant, plans to split into two public companies next year. The move will separate its movie properties and streaming service HBO Max from its global networks business, including CNN, TNT Sports, and Discovery.
CEO David Zaslav will lead the new streaming and studios company, while current CFO Gunnar Wiedenfels will become CEO of the global networks business. Warner Bros. Discovery expects to complete the split by mid-2026.
The move is part of a larger trend in the media industry, where companies are separating their traditional pay-TV networks from their broader businesses to focus on streaming platforms. Comcast’s NBCUniversal has already announced plans to spin out its cable networks into a new publicly traded company called Versant.
Warner Bros. Discovery joins this trend as it seeks to build up its streaming platform and become profitable. The company has been working to reduce its debt load, which was $34 billion at the end of the first quarter. Once the split is complete, the two companies will have strong liquidity and be able to focus on growing their businesses.
The move is seen as a strategic shift for Warner Bros. Discovery, allowing it to compete more effectively in today’s evolving media landscape. The company expects that operating as two distinct companies will give its iconic brands sharper focus and flexibility to adapt to changing consumer habits.
Source: https://www.cnbc.com/2025/06/09/warner-bros-discovery-to-split-into-two-public-companies-by-next-year.html