Warner Bros. Discovery to Split Into Two Firms

Warner Bros. Discovery announced it will split into two separate companies by mid-2026, reviving the Warner Bros. and Discovery Global brands. Warner Bros. will focus on its film, television, HBO, HBO Max, and gaming assets under CEO David Zaslav. Discovery Global, led by current CFO Gunnar Wiedenfels, will include CNN, Discovery, Discovery+, TNT Sports, and Bleacher Report. The split follows the 2022 merger, which did not achieve anticipated value and left the company with substantial debt amid industry shifts toward streaming. This move aims to better align each company with evolving consumer preferences and to leverage the Discovery brand’s global recognition. The separation is also intended to maximize the strengths of each portfolio for investors focused on either traditional or digital media.