WBD to split into two companies

[Chris]

https://www.cnbc.com/2025/06/09/warner-bros-discovery-to-split-into-two-public-companies-by-next-year.html

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.

WBD will separate into a streaming and studios company, which will include its movie properties and streaming service HBO Max, and a global networks company, which will include CNN, TNT Sports and Discovery, among other businesses.

CEO David Zaslav will lead 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.

“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,” Zaslav said in a release.

The news confirms earlier reporting by CNBC and others that WBD was considering such a split. In December, the company announced restructuring that many saw as a precursor to a full break.

It also comes as cable giant Comcast

is in the process of spinning out its portfolio of cable networks, including CNBC, into a new publicly traded company called Versant. That separation, announced last year, inspired speculation that the media industry could soon see heightened consolidation.

Warner Bros. Discovery shares were up more than 9% in premarket trading Monday.

 

[Barry Poppins]

Gee, I wonder what the Studio's gonna be called... Warner Bros.? And the cable channels... is it gonna be Discovery?

Nah, I don't buy it. Gotta be something more complicated

 

[Kairi HoHo]

Whatever WB needs Superman to hit the mark in July for them to thrive as they are doing all of this. If it fails all this means nothing they are at a crossroads in my opinion as a Studio they should be getting that in order before even doing this in the next Year or so.

 

[Chris]

https://finance.yahoo.com/news/aew-ceo-tony-khan-the-breakup-of-warner-bros-discovery-wont-affect-our-business-130538944.html?guccounter=1

The looming breakup of struggling TV player Warner Bros. Discovery (WBD) won't bodyslam All Elite Wrestling's (AEW) business, says CEO Tony Khan.

"We have great relationships with everybody at the top, both on global networks and streaming and studios," Khan told Yahoo Finance at the Cannes Lions International Festival of Creativity on Tuesday (watch above). "Mr. Zaslav [CEO David Zaslav] himself put our deal together. Gunnar [CFO Gunnar Wiedenfels], who will be running global networks, also was very involved in our deal."

Warner Bros. Discovery said this month it will split up amid the shift to streaming that's financially hammering its legacy TV assets. The company joins rival Comcast (CMCSA) in separating TV operations from streaming assets.

Last October, AEW and Warner Bros. Discovery signed a multiyear media rights deal for a reported $185 million annually. The wrestling league's two weekly shows, “Dynamite” and “Collision,” air on Warner Bros. Discovery's TBS and TNT networks. As part of the new deal, AEW's programming began streaming on Max for US subscribers in January.

AEW was launched in 2019 by Tony Khan, a longtime wrestling fan, and his father, Shad Khan. The promotion represented the first credible rival to the WWE since WCW folded in 2001.

Shad and Tony Khan are co-owners of the NFL's Jacksonville Jaguars and Premier League soccer team Fulham FC.

AEW debuted with an impressive roster of talent, led at the time by former WWE star Cody Rhodes. While Rhodes has since returned to the WWE, the league has maintained a roster of top talent, including former WWE stars Jon Moxley and Bryan Danielson.

Besides the big media breakups, the operating landscape for AEW is ever-shifting.

In September 2023, Endeavor completed a $21 billion merger between WWE and UFC, forming TKO Group (TKO). Netflix (NFLX) began exclusively streaming WWE's flagship Raw show in January as part of a $5 billion, 10-year rights deal.

Speculation has since surfaced that TKO Group may look to unload WWE.

Meanwhile, the competition for eyeballs has never been fiercer as Gen Z spends outsized time on platforms such as YouTube and Spotify.

"I think they [linear TV networks] still have a strong life. I just don't know how long it is," former BET CEO Debra Lee told Yahoo Finance at Cannes Lions about legacy media.

Lee is currently a board member at Warner Bros. Discovery.

"The viewing audience is still there," Lee added. "You know, you look at channels like BET or TNT or Discovery, so the audiences are still there. Not everybody wants to be on streaming."