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3w ago

Warner Bros. Discovery Formalizes Spin-Offs as Warner Bros. and Discovery Global

This restructuring isolates debt to sharpen strategic focus through defined leadership assignments, asset allocations, film unit staff reductions.

Gary A. Vasquez-Imagn Images
General views of the Warner Brothers studio lot on December 13, 2023 in Burbank, California. (Photo by AaronP/Bauer-Griffin/GC Images)
The Warner Bros logo is seen during the Cannes Lions International Festival of Creativity in Cannes, France, June 22, 2022. REUTERS/Eric Gaillard/File Photo
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Overview

  • Streaming & Studios will become Warner Bros. under CEO David Zaslav, overseeing television, film, DC Studios, HBO, HBO Max and gaming operations.
  • Global Networks will be rebranded as Discovery Global under CEO Gunnar Wiedenfels, encompassing CNN, TNT Sports, Discovery channels, Discovery+, Bleacher Report and Warner Bros. International TV Production.
  • Warner Bros. Motion Picture Group has initiated roughly 10% layoffs across marketing, distribution, production, strategy and operations to adopt a global operating model.
  • The spin-off aims to isolate Discovery Global’s legacy debt from Warner Bros. to bolster Warner’s stock valuation and provide clearer investor propositions.
  • The separation process, reversing the 2022 merger, is on track to complete by mid-2026 as WBD adapts to shifting media consumption patterns and investor demands.