Warner Bros. Discovery (WBD) has announced it will split into two separate companies by mid-2026. This move will separate its streaming and studios businesses from its traditional cable and TV networks.
The new “Streaming and Studios” company will include Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO, HBO Max, and their film and TV libraries.
The other company, called “Global Networks,” will manage TV channels such as CNN, Bleacher Report, Discovery Plus, TNT Sports in the US, and Discovery channels in Europe.
WBD CEO David Zaslav said the split will help the brands focus better and compete more effectively in today’s media market.
Zaslav will lead the Streaming and Studios company, while WBD CFO Gunnar Wiedenfels will head the Global Networks company. Both will keep their current roles until the split is complete.
The company plans to take out a $17.5 billion loan to reduce some of its $37 billion debt before the split. Most of the debt will stay with the Global Networks business.
This split follows earlier plans announced in December 2024 to restructure WBD into two divisions. The exact names for the new companies have not yet been finalized.
The move aims to help WBD handle challenges in its legacy TV networks while growing its streaming business. The split is expected to give each company more flexibility to succeed in a changing media landscape.
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