Warner Bros Discovery to Split into Two Companies

Warner Bros Discovery announced it will separate into two publicly traded companies, named Warner Bros and Discovery Global, marking the end of a merger that lasted less than four years.

Warner Bros will house the company’s core content businesses, including Warner Bros and DC Studios, along with the HBO Max streaming platform. The newly branded Discovery Global will include cable channels like CNN and TNT Sports, as well as the Discovery+ streaming service.

The division, first revealed in June, is expected to be finalized by mid-2026. It reflects Warner Bros Discovery’s strategy to strengthen its studio and streaming units without being weighed down by the declining performance of its traditional cable networks. Viewership and revenue across linear TV have continued to fall as consumers increasingly shift to digital platforms.

The announcement adds to a growing trend in the media industry, where major players are breaking apart conglomerates built through years of consolidation. Comcast is also spinning off much of its NBCUniversal cable network portfolio into a new company called Versant. Similarly, Lionsgate completed the separation of its Starz network from its studios earlier this year.

Executives say the restructuring will provide greater focus and agility for each business unit, enabling them to better respond to changes in consumer behavior and media consumption trends.

(with inputs from agencies)