Warner Bros. Discover Media giant announced on Monday that plans to split the two listed companies into two listed companies next year, the latest turmoil in the industry as consumers transition from cable to streaming.
Warner Bros. Discovery will be divided into streaming and studios, which include its movie properties and streaming services HBO Max and Global Networks, which include CNN, TNT Sports and Discovery, and other businesses.
CEO David Zaslav will hold the position at Streaming and Studios Company. Current Chief Financial Officer Gunnar Wiedenfels will become CEO of the global networking business.
Warner Bros. discovers that the division is expected to be completed by mid-2026.
Warner Bros. found the shares stopped in an expanded deal Monday morning.
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