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Warner Bros. Discovery to Split Streaming & Cable into Separate Companies

Jordan Wells
June 9, 2025
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Fed Proposes Overhaul of Bank Ratings System to Ease Acquisition Restrictions

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Warner Bros. Discovery (WBD) has announced a major restructuring: the company will split into two distinct businesses by mid‑2026.

  • 🧩 Streaming & Studios will house HBO, HBO Max, Warner Bros. Television & Motion Picture Group, and DC Studios—led by CEO David Zaslav.
  • 📺 Global Networks will contain CNN, TNT Sports, Discovery’s cable channels, and Discovery+ & Bleacher Report—under CFO Gunnar Wiedenfels.

The move follows years of cord-cutting and sluggish cable performance, aiming to give each unit the clarity and agility to thrive in their respective markets. WBD’s stock jumped 8–11% after the announcement, signaling investor optimism.

Why it matters:

  1. Strategic clarity: Each business will be able to optimize its growth strategy—streaming content versus broadcast distribution.
  2. Financial flexibility: The clear separation allows targeted debt and investment strategies, including a bridge loan and stake retention to manage debt load.
  3. Industry trend: The split mirrors moves by Comcast and signals potential for further consolidation or asset sales in the legacy media space