Financial statements released by Warner Bros. Discovery

Warner Bros. Discovery to Split Into Linear TV and Streaming Divisions by Mid-2025

Dec 12, 2024, 02:24 PM

Warner Bros. Discovery Inc. has announced a significant corporate restructuring, creating two distinct operating divisions: Global Linear Networks, which will house its cable networks like CNN, TBS, and TNT, and Streaming & Studios, encompassing its streaming platform Max and its film and entertainment studios. The restructuring aims to enhance strategic flexibility and unlock shareholder value by separating the declining linear TV business from the growing streaming and studio operations. The move is seen as a precursor to potential future deals or a spinoff of its traditional TV business, aligning with industry trends towards streaming as cord-cutting accelerates. The new structure is expected to be implemented by mid-2025, with shares of Warner Bros. Discovery surging more than 15% in premarket trading following the announcement.