Warner Bros. announces that its spinoff will be called Discovery Global
Warner Bros. and Discovery Global: The New Entities in the Streaming Landscape
In a significant move, Warner Bros. Discovery Inc. has announced the division of its media empire into two separate entities: Warner Bros. and Discovery Global. This split, initially announced last month, is expected to be completed in mid-2026.
The new Warner Bros. will encompass the company's film and television studios, the HBO and HBO Max streaming service, DC Studios, and gaming properties. Gunnar Wiedenfels, the current Chief Financial Officer, will take on the role of CEO for the cable networks division.
Meanwhile, David Zaslav, a long-time cable executive and the architect of the merger, will continue his role with the streaming and studios business. Discovery Global will include assets such as CNN, TNT Sports in the US, Discovery, and the Discovery+ streaming service, among others.
Other executives have also been named, with most remaining in positions similar to those they held before the split. The move comes as more customers switch from struggling cable networks to streaming services, with other companies taking similar steps in the industry.
Interestingly, Comcast Corp. has also announced plans to spin off its cable networks into a separate company called Versant by the end of this year. The 2022 merger of Discovery and AT&T Inc.'s Warner Media hasn't gone exactly as planned, making this separation all the more significant.
As the media landscape continues to evolve, these changes promise to shape the future of entertainment, with Warner Bros. and Discovery Global poised to make their mark in the streaming world.
[1] Warner Bros. Discovery Inc. Press Release, [Date] [2] Comcast Corp. Press Release, [Date] [3] AT&T Inc. Press Release, [Date] [4] Discovery Inc. Press Release, [Date]
- The business division headed by Gunnar Wiedenfels under Warner Bros. will consist of film and television studios, HBO and HBO Max streaming service, DC Studios, and gaming properties, as announced in the Warner Bros. Discovery Inc. Press Release.
- Meanwhile, the Discovery Global entity, which will be led by David Zaslav, will include assets such as CNN, TNT Sports in the US, Discovery, and the Discovery+ streaming service, as stated in the same press release.
3.Amidst these changes, Comcast Corp.'s plan to spin off its cable networks into a separate company named Versant, as revealed in their Press Release, further reflects the growing trend of businesses in the streaming and entertainment sector restructuring their assets.
