Warner Bros. Discovery plans to separate into two public corporations by subsequent 12 months, the media big introduced Monday, the most recent upheaval within the trade as shoppers transition from cable to streaming.
Warner Bros. Discovery will separate into Streaming and Studios, which is able to embrace its film properties and streaming service HBO Max, and World Networks, which is able to embrace CNN, TNT Sports activities and Discovery, amongst different companies.
CEO David Zaslav will tackle that submit within the Streaming and Studios firm. Present CFO Gunnar Wiedenfels will turn into CEO of the World Networks enterprise.
Warner Bros. Discovery expects to finish the cut up by the center of 2026.
Warner Bros. Discovery shares have been halted in prolonged buying and selling Monday morning.
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