Overview

• WBD CFO and Discovery Global CEO‑elect Gunnar Wiedenfels said buyers have already approached the networks unit about its 20% stake in Warner Bros.
• He confirmed the stake could be monetized in part or in full before the split closes, with maximizing value framed as a top priority.
• Wiedenfels noted a roughly one‑year window to execute a tax‑efficient transaction and called the equity proceeds a key pillar of the deleveraging plan.
• The separation remains targeted for Q2 2026, with Discovery Global set to assume most of WBD’s $35.6 billion gross debt yet still allocate cash to growth investments.
• Discovery Global is developing a standalone TNT Sports streaming app with a bundle option for Discovery+, alongside plans to relaunch Discovery+ and expand CNN’s digital offerings.