Warner Bros. Discovery splits into 2 companies

Warner Bros. Discovery announced Monday that it will split its operations into two publicly traded companies, separating its HBO Max streaming service and film production from its television channels.

Thus, the first company, known as Streaming & Studios, will be led by the company's executive chairman, David Zaslav, and will consist of Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO and HBO Max.

The other company, “Global Networks”, will be led by CFO Gunnar Wiedenfels, and will include world-renowned entertainment, sports and news channels, including CNN, TNT Sports in the US and Discovery, a free-to-air channel in Europe, and others, such as the Discovery+ streaming service.

The separation, which is expected to take effect in mid-2026, “aims to provide each company with greater flexibility and a greater strategic focus,” the company said in a statement.

“The cultural significance of this great company and the powerful stories it has brought to life for more than a century have touched countless people around the world. It is a cherished legacy that we will proudly continue in this new chapter of our storied history ,” Zaslav said in the same statement.

“By operating as two distinct companies optimized for the future, we are giving these iconic brands the greatest focus and flexibility to deliver on their promises,” he concludes.

In an internal message to the US conglomerate's executives, released by CNN, Zaslav insisted that the intention of the split is to "unleash the full potential of two strong businesses. (...) Each has a distinct focus, a clear mission and the scale to achieve success on its own terms ."

In the statement released by Warner Bros. Discovery, the company also said that the split will allow each company to “pursue significant investment opportunities and generate value for shareholders.”

This announcement comes after months of restructuring the company for this purpose, three years after the merger between the then Warner Media and Discover.