Warner Bros. Discovery splits out linear networks and streamingWarner Bros. Discovery splits out linear networks and streaming

Warner Bros. Discovery, Inc. (the "Company") (Nasdaq: WBD) today announced that its Board of Directors has authorized the Company to implement a new corporate structure designed to enhance its strategic flexibility and create potential opportunities to unlock additional shareholder value.

Under this new corporate structure, Warner Bros. Discovery will serve as the parent company for two distinct operating divisions:

Warner Bros. Discovery expects the new corporate structure to enhance clarity and focus, with each division positioned to deliver on its specific strategic and operational objectives while executing on initiatives to further key priorities for consolidated Warner Bros. Discovery. Global Linear Networks will focus on maximizing profitability and free cash flow to continue deleveraging, while Streaming & Studios will focus on driving growth and strong returns on increasing invested capital. The new corporate structure will also increase optionality to pursue further value creation opportunities for both divisions in an evolving media landscape.

Warner Bros. Discovery expects to start the foundational steps immediately and to complete the implementation of the new corporate structure by mid-2025.

Read the full press release here.

Warner Bros. Discovery