Warner Bros. Discovery has announced its plan to restructure the company by splitting it into two successor companies, Streaming & Studios and Global Networks. The former will focus on the studio business, housing top brands such as HBO, Warner Bros. Pictures, and HBO Max. The latter will comprise the company’s declining cable businesses and digital arms, including Discovery and CNN.
The restructuring is seen as a strategic move to revitalize the company’s stock performance and cut costs. Dr. David Offenberg, an entertainment finance expert, notes that the AT&T deal that formed Warner Bros. Discovery initially set the template for the current split. The leadership team, led by CEO David Zaslav and CFO Gunnar Wiedenfels, will oversee the two new entities.
Source: https://www.vulture.com/article/warner-bros-discovery-spinoff-plan-explained.html