Warner Bros. Discovery announced on Monday, 9, plans to divide his operations into two media companies, in a statement released on his site. The “tax -free” transaction will allow the potential to expand the potential of the two companies, which will have publicly traded, Warner said.
Streaming & Studios will include Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO and HBO Max, as well as studio movie and television libraries. Global Networks will have major entertainment television brands, sports and news around the world, including CNN, US TNT Sports and Discovery, major TV channels across Europe, as well as digital products such as the lucrative streaming disk service and Bleacher Report.
David Zaslav, president and CEO of Warner Bros. Discovery, will act as president and CEO of streaming & Studios. Gunnar Wiedefels, Director of Warner Bros. Discovery will be the president and CEO of Global Networks. Both will continue in their current positions until separation, whose conclusion is foreseen up to half of 2026.
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JPMorgan and Evercore will be the financial counselors of the separation process, while Kirkland & Ellis will take care of legal counseling.
After the announcement, the action of Warner Bros. Discovery climbed 8.55% pre-market in New York at 9:34 am (Brasília).
