Warner Bros. Discovery, the parent company of HBO Max, CNN, and TNT, has announced plans to split into two distinct companies. This move reflects the changing media landscape and audience fragmentation. One company will focus on Warner’s studios and streaming units, including HBO Max, DC Comics, and film production and distribution, led by WBD CEO David Zaslav. The other will encompass WBD’s TV networks, managed by CFO Gunnar Wiedenfels. Zaslav stated that this separation will provide the brands with the focus and flexibility needed to thrive in today’s evolving media environment. This decision follows earlier reports suggesting a potential split and a December restructuring. The announcement mirrors Comcast’s recent decision to spin off its cable networks into a new entity called Versant. WBD shares rose up to 9% in pre-market trading. However, during David Zaslav’s approximately four-year leadership, shares have decreased by about 66%. — new from NBC News
