STORY: Warner Bros Discovery said on Monday (June 9) it would split into two companies.
It’s to separate its studios and streaming business from its fading cable television networks.
The parent of HBO and CNN wants to compete better in the streaming era.
The breakup is the latest sign of the great unraveling of decades of media consolidation.
Which created global conglomerates spanning content creation, distribution and in some cases, telecommunications.
The reset would provide Warner Bros Discovery’s streaming unit more room to scale by producing studio content.
And without being held down by the declining cable networks business.
Its CEO David Zaslav will lead the streaming and studios business after the breakup.
While CFO Gunnar Wiedenfels will head the global networks unit.
The separation is expected to be completed by mid-2026.
WBD shares were up nearly 6% in premarket trading.
