Warner Bros. Discovery has announced a significant restructuring that will separate its streaming and studios operations from its cable business, creating two independent companies. The new entity will oversee HBO, HBO Max, and various Warner Bros. studios, while the cable operations, including CNN and Discovery+, will form the Global Networks division. The move responds to the industry shift where many consumers are moving away from traditional cable subscriptions. This restructuring aims to provide sharper focus and strategic flexibility to compete in the changing entertainment landscape. CEO David Zaslav will lead the streaming side, while CFO Gunnar Wiedenfels will oversee the cable company.
By operating as two distinct and optimized companies in the future, we are empowering these iconic brands with the sharper focus and strategic flexibility they need to compete most effectively in today's evolving media landscape.
Warner Bros. Discovery said in December that it was implementing a restructuring plan in which Warner Bros. Discovery would become the parent company for two operating divisions, Global Linear Networks and Streaming & Studios.
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