Warner Bros. Discovery to split into two, separating CNN and cable networks from streaming

Warner Bros. Discovery announced the media giant will divide into two new publicly traded companies, with one consisting of its cable networks such as CNN and TNT Sports and the second consisting of its streaming and studios business, including HBO Max and Warner Bros. Television. 

In a statement on Monday, the company said current Warner Bros. Discovery CEO David Zaslav will serve as president and CEO of Streaming & Studios, while Gunnar Wiedenfels, chief financial officer of Warner Bros. Discovery, will lead the cable division, called Global Networks.

The split is expected to be completed by mid-2026, the company said.