Warner Bros. Discovery to split into 2 companies, dividing cable and streaming services

Associated Press
Monday, June 9, 2025 9:01 a.m. | Monday, June 9, 2025 9:01 a.m.

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Shaquille O’Neal (from left), Ernie Johnson, Kenny Smith and Charles Barkley speak at the NBA Awards on June 25, 2018, at the Barker Hangar in Santa Monica, Calif.

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EVP of Content Acquisitions for TNT, TBS, truTV, HBO & HBO MAX Michael Quigley (from left), Chief Content Officer of HBO MAX and President, TNT, TBS, & truTV Kevin Reilly and Head of Original Content of HBO MAX Sarah Aubrey appear Jan. 15, 2020, at the HBO Max Executive Sessions panel in Pasadena, Calif.

NEW YORK — Warner Bros. Discovery will split into two public companies by next year, calving off its cable operations from its streaming service.

Warner Bros. Discovery said Monday that Streaming & Studios will include Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO, and HBO Max, as well as their film and television libraries.

The Global Networks company will include CNN, TNT Sports in the U.S., and Discovery, top free-to-air channels across Europe, and digital products such as the Discovery+ streaming service and Bleacher Report.

Warner Bros. Discovery CEO David Zaslav will serve as CEO of Streaming & Studios. Gunnar Wiedenfels, chief financial officer of Warner Bros. Discovery, will serve as CEO of Global Networks. Both will continue in their current roles until the separation.

The split is expected to be completed by the middle of next year.