Warner Bros. Discovery to split into two public companies by next year

KEY POINTS

Warner Bros. Discovery plans to split into two public companies by next year.

WBD will separate into a streaming and studios company, which will include its movie properties and streaming service HBO Max, and a global networks company, which will include CNN, TNT Sports and Discovery.

CEO David Zaslav will lead the streaming and studios company. Current CFO Gunnar Wiedenfels will become CEO of the global networks business.