Warner Bros. Discovery to split into two companies, dividing cable and
streaming services
[June 10, 2025] By
MICHELLE CHAPMAN
NEW YORK (AP) — Warner Bros. Discovery will calve off cable operations
from its streaming service, creating two independent companies as the
number of people “cutting the cord” brings with it a sustained upheaval
in the entertainment industry.
HBO, and HBO Max, as well as Warner Bros. Television, Warner Bros.
Motion Picture Group, DC Studios, will become part of the streaming and
studios company, Warner Bros. said Monday.
The cable 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.
Shares jumped 11% at the opening bell.
Warner Bros. Discovery CEO David Zaslav will become serve as CEO of the
company that for right now is called Streaming & Studios. Gunnar
Wiedenfels, chief financial officer of Warner Bros. Discovery, will be
CEO of the cable-focused entity, for now known as Global Networks.
“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 statement.
Just days ago Warner Bros. Discovery shareholders in a vote that was
symbolic as it's nonbinding, rejected the 2024 pay packages of some
executives, including Zaslav, who will make more than $51 million.
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. That was seen as a preview of the separation
announced Monday.
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The Discovery Communications logo atop its headquarters in Silver
Spring, Md, July 31, 2017. (AP Photo/Manuel Balce Ceneta, File)
 Warner Bros. Discovery was created
just three years ago when AT&T spun off WarnerMedia and it was
merged with Discovery Communications in a $43 billion deal.
The cable industry has been under assault for years from streaming
services like Disney, Netflix, Amazon and Warner Bros. own HBO Max.
The industry is also being pressured by internet plans offered by
mobile phone companies. Comcast, which is of nearly equal size to
Charter, spun off many of its cable television networks in November,
seeing so many customers swap out their cable TV subscriptions for
streaming platforms.
Last month Charter Communications offered to acquire Cox
Communications, a $34.5 billion merger that would combine two of the
top three cable companies in the U.S.
So-called “cord cutting” has cost the industry millions of customers
and left them searching for ways to successfully compete.
The Warner Bros. Discovery split is expected to be completed by the
middle of next year. It still needs final approval from the Warner
Bros. Discovery board.
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