Breaking News
Warner Bros. Discovery Splitting
Media giant Warner Bros. Discovery will split its streaming business and studio arm, the company announced Monday.
“The cultural significance of this great company and the impactful stories it has brought to life for more than a century have touched countless people all over the world. It’s a treasured legacy we will proudly continue in this next chapter of our celebrated history,” said David Zaslav, President and CEO of Warner Bros. Discovery, who will serve as President and CEO of Streaming & Studios. Gunnar Wiedenfels, CFO of Warner Bros. Discovery, will serve as President and CEO of Global Networks.
Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO, and HBO Max, as well as their legendary film and television libraries will make up the Streaming and Studios arm, the company detailed. While the “premier entertainment, sports and global news television brands around including CNN, TNT Sports in the U.S., and Discovery, top free-to-air channels across Europe, and digital products such as the profitable Discovery+ streaming service and Bleacher Report” will be Global Networks.
Warner Bros Discovery Inc.
$
9.82
Shares rose on the news.
Other streamers including Netflix, Apple and Disney may also be active.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| NFLX | $1,241.47 | -9.04 | -0.72 |
| AAPL | $203.92 | 3.29 | 1.64 |
| DIS | $113.90 | 1.37 | 1.22 |
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