Warner Bros. Discovery to Split Into Two Public Companies by 2026 in Landmark Restructuring Move

Warner Bros. Discovery (WBD) announces a sweeping corporate reorganization that will split the entertainment giant into two separate publicly traded companies by mid-2026. The decision, confirmed by executives during a press call Monday, is aimed at sharpening strategic focus and unlocking value across its sprawling portfolio of film, television, streaming, and news assets.

Under the plan, WBD will divide into one company focused on streaming and film studios—including HBO Max, Warner Bros. Pictures, DC Studios, and related content production—and another company centered on global networks, which will house CNN, TNT Sports, Discovery Channel, Food Network, and other. . .