Warner Bros. Discovery Announces Split into Two Companies by 2026

Warner Bros. Discovery revealed plans to divide into two publicly traded entities by 2026. The move aims to enhance the competitiveness of the iconic brands. Following the separation, CEO David Zaslav will lead the Warner Bros. TV and movie group, DC Studios, HBO, and HBO Max under “The Streaming & Studios” company. Meanwhile, CFO Gunnar Wiedenfels will head the “Global Networks” group, encompassing CNN, TNT Sports, Discovery, Discovery-Plus, Bleacher Report and other cable networks. This strategic split is expected to optimize the companies’ strengths and financial profiles. Warner Bros. Discovery shares rose by 7.59% on the Nasdaq following the announcement. (Upi)