Warner Bros. Discovery to split into two companies

Warner Bros. Discovery (WBD) will split into two public companies by mid-2026, the company announced Monday. The move comes as viewers shift from cable to streaming.

One company will be called Streaming and Studios and will include HBO Max and Warner Bros. films. It will be steered by CEO David Zaslav. The other entity will manage global networks, including CNN, TNT Sports, Discovery, as well as Discovery+ and Bleacher Report. It will be called Global Networks.

The split aims to sharpen each company’s strategy and improve flexibility.

However, analysts opine that Warner may sell Global Networks amid the declining viewership of traditional pay-TV networks. Last year, Warner reduced the value of its TV networks business to $9.1 billion.

WBD shares rose over 2% Monday following the news.