Warner Bros. Discovery will split into two separate companies next year, it announced on Monday.
The Streaming & Studios company will include Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO, and HBO Max, as well as their legendary film and television libraries.
The second business, Global Networks, will include entertainment, sports and news television brands including CNN, TNT Sports in the US, Discovery and the Discovery+ streaming service and some free-to-air channels in Europe.
David Zaslav, CEO of Warner Bros. Discovery, will lead Streaming & Studios. Gunnar Wiedenfels, the CFO, will CEO of Global Networks.
Both will continue in their present roles at WBD until the separation.
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