Warner Bros Discovery splits in two as streaming takes the lead: Report
Warner Bros Discovery on Monday announced that the company will break into two separate businesses. One will handle its popular streaming and film studios, while the other will manage its older cable TV channels like CNN and TNT, reported Reuters.
The decision comes as more people stop watching traditional TV and move to streaming platforms. This shift has forced many media companies to rethink how they work.
CEO David Zaslav, who currently runs Warner Bros Discovery, will lead the new company that focuses on streaming and film studios. The other company, which will include cable channels, will be run by the current Chief Financial Officer, Gunnar Wiedenfels.
Zaslav said the change will help both sides of the business focus better and adapt to the fast-changing media world. “By becoming two focused companies, we’re giving our brands the freedom and direction they need to do well in today’s market,” he said.
This move isn’t a surprise. In December, Warner Bros Discovery hinted that it was planning to separate its fast-growing streaming division from the struggling cable business. The idea is to give each one the best chance to grow.
The media industry is under pressure. With fewer people watching cable TV, companies need to create hit shows and make their streaming services profitable. Warner Bros Discovery is following a trend—Comcast, another big media company, is also spinning off many of its cable networks.
In short, this split is a sign of the times. Streaming is the future, and Warner Bros Discovery wants to make sure it’s ready.
