Warner Bros. Discovery (WBD) CEO David Zaslav and CFO Gunnar Wiedenfels announced plans to split the company into two separate entities by summer 2026. The first company, Streaming & Studios, led by Zaslav, will include Warner Bros.’ film and television properties, HBO’s TV and streaming services, and the DC Studios library. The second company, Global Networks, headed by Wiedenfels, will manage cable assets such as Discovery, CNN, Turner Classic Movies, Animal Planet, TLC, Food Network, TBS, TNT Sports, Bleacher Report, U.S. broadcast rights for sports like NCAA basketball, and various European channels. This decision follows last month’s reversion of HBO Max and marks a significant shift in Zaslav’s strategy since the 2022 merger with Discovery Inc. The split aims to focus on high-value assets while separating debt-heavy traditional media operations.
— new from Slate Magazine
