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EMARKETER

Warner Bros. Discovery will split into two companies by next year

Article by Marisa Jones  |  Jun 9, 2025
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Warner Bros. Discovery will split into two companies by next year
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Topics
Business Strategies & Trends
Digital Video
TV
United States

The news: Warner Bros. Discovery (WBD) plans to split into two separate public companies by 2026, one focused on streaming and studios and the other on global cable networks, the company announced.

  • Its streaming company will include HBO Max and WBD’s movie properties, while the global networks company will include TNT Sports, Discovery, and CNN.
  • The streaming and studios unit will be led by CEO David Zaslav, and CFO Gunnar Wiedenfels will become the CEO of WBD’s network business.
  • WBD executives suggested on an investor call that the two companies may remain interconnected, per Variety. Ad sales could span both entities, and while sports will fall under the TV division, it is expected that HBO Max will continue offering sports streaming.

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