Posted in: HBO, Max, Movies, streaming, TV | Tagged: dc studios, warner bros discovery

Warner Bros. Discovery Set for Split; Will Go Separate Ways in 2026

Warner Bros. Discovery is splitting into two companies: Streaming & Studios and Global Networks. Here's a look at who's going where...

Taking a page from Comcast and how it's shifting its cable networks away from NBCUniversal and into its own company, Versant, Warner Bros. Discovery confirmed the rumblings that it would be splitting into two companies: Streaming & Studios and Global Networks. Here's how things are being divided up:

Streaming & Studios: Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO and HBO Max (including international sports offering), Warner Bros. Games, Tours, Retail and Experiences, and studio production facilities in Burbank and Leavesden. David Zaslav, President and CEO of Warner Bros. Discovery, will serve as President and CEO.

Global Networks: Entertainment, sports, and news television brands, including CNN, TNT Sports in the U.S., and Discovery, top free-to-air channels across Europe, and digital products such as the Discovery+ streaming service, CNN's upcoming streaming service, and Bleacher Report (B/R). Gunnar Wiedenfels, CFO of Warner Bros. Discovery, will serve as President and CEO of Global Networks.

"The cultural significance of this great company and the impactful stories it has brought to life for more than a century have touched countless people all over the world. It's a treasured legacy we will proudly continue in this next chapter of our celebrated history," shared Zaslav. "By operating as two distinct and optimized companies in the future, we are empowering these iconic brands with the sharper focus and strategic flexibility they need to compete most effectively in today's evolving media landscape."

Assuming no bumps along the way when it comes to closing and other conditions, the two companies will be officially going their separate ways by the middle of 2026. J.P. Morgan and Evercore serve as financial advisors to Warner Bros. Discovery, with Kirkland & Ellis LLP serving as legal counsel.

"This separation will invigorate each company by enabling them to leverage their strengths and specific financial profiles. This will also allow each company to pursue important investment opportunities and drive shareholder value," added Wiedenfels. "At Global Networks, we will focus on further identifying innovative ways to work with distribution partners to create value for both linear and streaming viewers globally while maximizing our network assets and driving free cash flow."

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