Los Angeles: Warner Bros. Discovery (WBD) has announced plans to split into two separate publicly traded companies by mid-2026, aiming to sharpen strategic focus and unlock greater shareholder value.
The media giant, home to iconic brands such as HBO, DC Studios, and Discovery, revealed that the split will divide its operations into a Streaming & Studios company and a Global Networks company. The move is intended to allow each entity to operate with greater agility and clarity in a rapidly evolving entertainment ecosystem.
The Streaming & Studios division will encompass Warner Bros. Motion Picture Group, Warner Bros. Television, HBO, HBO Max, and DC Studios, along with its storied film and television libraries.
Meanwhile, Global Networks will house leading global entertainment, sports, and news networks, including Discovery’s top free-to-air European channels, digital platforms like Discovery+, and the sports brand Bleacher Report.
David Zaslav, currently President and CEO of Warner Bros. Discovery, will lead the Streaming & Studios company post-split. Gunnar Wiedenfels, the current CFO, will assume leadership of Global Networks. Both will continue in their current roles until the separation is finalized.
“This transformation marks the beginning of a new chapter for Warner Bros. Discovery. By creating two distinct companies, we are giving these iconic brands the strategic flexibility and focus they need to thrive in today’s dynamic media landscape,” said Zaslav.
Wiedenfels added that the separation will allow each business to better leverage its financial profile and operational strengths.
The split will be executed in a tax-free manner for US federal income tax purposes, pending regulatory approvals, market conditions, and a final go-ahead from the WBD Board of Directors.
The company also plans to establish arm’s-length commercial and transition agreements between the two businesses to ensure continuity and operational efficiency post-separation.
