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Warner Bros Discovery to Split by 2026


Description:-

Warner Bros. Discovery plans to separate into two distinct publicly traded companies by mid-2026. This move will effectively unwind much of the 2022 merger that created Warner Bros. Discovery.

The two new entities will be:

Streaming & Studios: This company will encompass Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO, HBO Max, and their extensive film and television libraries. David Zaslav, the current President and CEO of Warner Bros. Discovery, will lead this division.
Global Networks: This division will include entertainment, sports, and news television brands such as CNN, TNT Sports in the U.S., Discovery, free-to-air channels across Europe, and digital products like Discovery+ and Bleacher Report. Gunnar Wiedenfels, currently CFO of Warner Bros. Discovery, will lead this segment.
The split is intended to provide each company with a sharper focus and greater strategic flexibility to compete in the evolving media landscape. It aims to allow the streaming and studios business to scale up content production without being weighed down by the declining cable networks business. The separation is expected to be a tax-free transaction for U.S. federal income tax purposes and is subject to final approval by the Warner Bros. Discovery board.

The company also announced plans to restructure its existing debt, funded by a $17.5 billion bridge facility from J.P. Morgan. The Global Networks division will retain up to a 20% stake in the Streaming & Studios business, which it plans to monetize to further reduce its debt.

This restructuring mirrors similar moves by other media giants like Comcast, which is also spinning off most of its cable TV networks.