Warner Bros. Discovery to Split Into Two Companies to Strengthen Streaming Strategy

Warner Bros. Discovery announced a major corporate shakeup on Monday, revealing plans to split into two separate publicly traded companies: Streaming & Studios and Global Networks. The restructuring aims to enhance the company’s streaming capabilities while maximizing the value of its traditional media assets.

Set for completion by mid-2026, the Streaming & Studios division will encompass HBO and Warner Bros. content libraries, production facilities in the U.S. and U.K., and related tours and experiences. This arm will focus on expanding HBO Max, which is currently available in 77 markets.

Meanwhile, Global Networks will include CNN, Discovery, and TNT Sports—brands with a combined global reach of 1.1 billion viewers across 200 countries.

Warner Bros. Discovery CEO David Zaslav will head the Streaming & Studios segment, while CFO Gunnar Wiedenfels will lead Global Networks.

Zaslav stated, “Operating as two focused companies gives our iconic brands the flexibility and clarity they need to better compete in today’s rapidly evolving media environment.”

Following the announcement, Warner Bros. Discovery shares surged by 10.3% in morning trading.