Warner Bros. Discovery plans to split into two public companies by next year, the media giant announced Monday, the latest upheaval in the industry as consumers transition from cable to streaming.
Warner Bros. Discovery will separate into Streaming and Studios, which will include its movie properties and streaming service HBO Max, and Global Networks, which will include CNN, TNT Sports and Discovery, among other businesses.
CEO David Zaslav will take on that post in the Streaming and Studios company. Current CFO Gunnar Wiedenfels will become CEO of the Global Networks business.
Warner Bros. Discovery expects to complete the split by the middle of 2026.
Warner Bros. Discovery shares were halted in extended trading Monday morning.
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