Warner Bros Discovery is planning to split its operations into two separate companies, one focused on high-potential streaming and studios, the other on declining global networks. The move aims to simplify the company’s structure and make it more competitive in a rapidly changing media landscape.
CEO David Zaslav will run the new streaming and studios division, while CFO Gunnar Wiedenfels will lead the global networks division. The split is expected to be completed by mid-2026.
The decision comes after years of integration efforts, which have seen significant cost-cutting measures taken, including $5 billion in non-content costs being cut. HBO Max is set to become a key part of the global networks division, with some content potentially appearing on HBO Max through commercial agreements.
Debt reduction is also a major focus for WBD’s new companies. The company plans to launch a tender offer for a significant portion of its debt, which will be repaid at separation by issuing new debt from each company.
Analysts believe the split reflects WBD’s confidence in its new companies’ ability to compete independently and make their own decisions without relying on the combined entity.
Source: https://deadline.com/2025/06/warner-bros-discovery-split-plan-stock-1236427984