Warner Bros. Discovery splitting into two separate media companies – separating CNN from HBO Max
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Why Warner Bros. Discovery is splitting into two and what this means
- Warner Bros. Discovery will split into two separate public companies by mid-2026, focusing on streaming/studios and global networks respectively, amid the ongoing shift from cable to streaming.
- David Zaslav will oversee the streaming and studios business (including HBO Max), while Gunnar Wiedenfels will head the global networks company (including CNN, TNT, and Discovery).
- The separation aims to allow each company to leverage its strengths, pursue investment opportunities, and enhance shareholder value in the evolving media landscape.
- This move mirrors Comcast's earlier spin-off of its cable assets into a separate entity, Versant, signaling a broader trend of restructuring among media giants facing cord-cutting challenges.
- The split follows WBD's earlier restructuring plan to separate its linear networks and streaming units, and comes as Zaslav has been focused on reducing the company's debt, a move that has faced internal criticism.