Warner Bros. Discovery to Split into Two Companies, 'Warner Bros.' and 'Discovery Global' in Mid-2026

Global media giant Warner Bros. Discovery (WBD) announced on the 29th that it will split into two independent companies in mid-2026. Currently operating as a single entity, Warner Bros. Discovery is set to be restructured into 'Warner Bros.' and 'Discovery Global' around this time next year.

Through this split, Warner Bros. will take charge of entertainment-focused businesses such as Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO, HBO Max, and Warner Bros. Gaming Studio. Meanwhile, Discovery Global will handle news and sports content areas including CNN, the sports business of TNT in the U.S., Discovery, Discovery Plus, and Bleacher Report.

Looking at the executive structure, current WBD President and CEO David Zaslav is expected to continue leading the management of Warner Bros. On the other hand, current WBD Chief Financial Officer (CFO) Gunnar Wiedenfels is set to take office as President and CEO of Discovery Global.

In a statement regarding the corporate split, Zaslav stated, 'This split will position Warner Bros. to continue sustainable and meaningful growth befitting our legendary past.'

Wiedenfels also echoed Zaslav's sentiments, emphasizing that the leadership team of Discovery Global will 'ensure strong operational execution to drive strategic investments and deliver compelling content to global audiences.'

WBD explained that the new company names are 'to honor the storytelling legacy that has defined the industry for over a century.' However, all aspects of this restructuring are interpreted as measures to address the company's massive debt issues.

Technically, Discovery Global's debt will no longer be directly tied to Warner Bros., which is analyzed to potentially help boost Warner Bros.' sluggish stock price. While it is unclear how Discovery Global plans to turn a profit, the company is reportedly looking for a new Chief Communications and Public Affairs Officer tasked with providing a positive interpretation of the entire situation.

This split is seen as an attempt for each business unit to secure competitiveness with more specialized strategies in the rapidly changing media landscape. Especially in a situation where competition in streaming services is intensifying, it appears to be a strategy to separate entertainment and news·sports content to maximize each's strengths.