Warner Bros Discovery will split into two separate publicly traded companies -- one focused on its studios and streaming assets like HBO, DC Studios, and HBO Max, and the other on its declining cable networks including CNN and TNT Sports. The move, which unwinds the 2022 WarnerMedia-Discovery merger, is expected by mid-2026 and is "the latest unraveling of decades of media consolidation that created global conglomerates spanning content creation, distribution and in some cases, telecommunications," reports Reuters. From the report: The new streaming-and-studios company will include Warner Bros, DC Studios and HBO Max - the crown jewels of WBD's entertainment library. The networks unit, which will hold up to a 20% stake in its counterpart, will house CNN, TNT Sports and Bleacher Report. CEO David Zaslav will lead the streaming and studios unit, while CFO Gunnar Wiedenfels will head the networks unit. The separation will be structured as a tax-free transaction and is expected to be completed by mid-2026....
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