Warner Bros. Discovery has confirmed that it will split into two different companies. The separation will result in the creation of a ‘Streaming & Studios’ company and a ‘Global Networks’ company.
The Streaming & Studios company will include streaming services like HBO and HBO Max, as well as Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, including their film and television libraries.
The Global Networks company will basically include all of the channels and networks under the Warner Bros. Discovery umbrella. For example, CNN, Discovery and TNT Sports, as well as free-to-air channels. The Global Networks company will also include the Discovery+ streaming service and Bleacher Report (B/R).
“By operating as two distinct and optimized companies in the future, we are empowering these iconic brands with the sharper focus and strategic flexibility they need to compete most effectively in today’s evolving media landscape,” said David Zaslav, President and CEO of Warner Bros. Discovery.
Presuming all goes to plan, Warner Bros. Discovery expects the separation to be completed next year.
The Separation Of Content Had Already Begun
Max subscribers may have noticed that the streaming service’s library saw a notable decline in content over recent months. In early May, for example, Max removed a lot of Discovery content, including multiple ’90 Day’ and ‘My 600-lb Life’ seasons.
While it was unclear at the time as to why this culling of content was taking place, it now seems highly likely that the move was a small part of the preparation for the separation into two companies announced today.
Also in May, Warner Bros. Discovery announced that the Max streaming service is in the process of being rebranded again. The change will see the service reverting back to its old ‘HBO Max’ name.
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