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Warner Bros. Discovery announces post-split companies will be 'Warner Bros.
CNBC· 2025-07-28 17:48
Core Viewpoint - Warner Bros. Discovery is preparing to split into two publicly traded companies by mid-2026, with distinct names and leadership teams for each division [1][3]. Group 1: Company Structure and Leadership - The streaming and studios division will be named "Warner Bros." and will include movie properties like DC Studios and HBO Max [1]. - The global networks segment will be called "Discovery Global," encompassing entertainment, sports, and news networks such as CNN and Discovery+ [1]. - David Zaslav will lead Warner Bros., while Gunnar Wiedenfels will become CEO of Discovery Global [4]. Group 2: Strategic Context - The split is a response to the industry-wide shift from traditional cable to streaming services [3]. - This move follows a similar strategy by Comcast to separate its cable assets, indicating a trend in the industry [3]. - The new names reflect the historical entities prior to the merger of WarnerMedia and Discovery, Inc. in 2022 [3]. Group 3: Business Performance and Future Outlook - The company has made significant progress in launching a profitable global streaming service and revitalizing its studios [2]. - Zaslav emphasized the strength of the company's storytelling IP and the commitment of its creative and corporate leaders to drive future growth [5].
Warner Bros. Discovery split throws the future of TNT Sports into question
CNBC· 2025-06-09 16:07
Core Viewpoint - Warner Bros. Discovery is splitting into two companies, potentially signaling a shift away from U.S. sports involvement [2][3][4] Group 1: Company Structure - The split will create two entities: Streaming and Studios, which includes Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO, and HBO Max; and Global Networks, which will encompass legacy cable networks, TNT Sports, digital products, and free-to-air channels in Europe [2][3] - David Zaslav will lead Streaming and Studios, while Gunnar Wiedenfels will head Global Networks [3] Group 2: Sports Rights Management - The future of TNT Sports rights is uncertain as they will be managed by Global Networks, which will evaluate licensing options for TNT Sports programming [4][5] - Zaslav indicated that U.S. sports have not significantly driven HBO Max signups, suggesting a potential separation of TNT Sports from the streaming service in the future [4][5] - Wiedenfels mentioned that the management team will determine the best monetization strategy for streaming and digital rights over time, with options including licensing deals with other media companies [5][6] Group 3: Potential Consolidation and Tax Implications - Wiedenfels may consider consolidating TNT Sports with another entity, such as the upcoming Comcast spinout, Versant, which is interested in acquiring sports rights [6][7] - The split is noted to be tax-free, but Wiedenfels highlighted that transactions could commence immediately after the separation, expected by mid-2026 [7]
Warner Bros Stock Surges on Company Split
Schaeffers Investment Research· 2025-06-09 15:05
Core Viewpoint - Warner Bros Discovery Inc is set to split into two publicly traded companies by next year, with CEO David Zaslav leading the streaming and studios company that will include HBO Max, while CFO Gunnar Wiedenfels will head the global networks business, which encompasses CNN, TNT Sports, and Discovery [1] Group 1 - Warner Bros stock increased by 10.1% to $10.81, marking its highest level since April 1 and moving into positive territory for the year with a 3.1% year-to-date gain [1][2] - The stock experienced significant options activity, with 60,000 calls traded, which is 11 times the typical volume for WBD, compared to 6,650 puts [3] - The June 11 call option was the most popular, followed by the weekly 6/13 11-strike call, indicating strong bullish sentiment [3] Group 2 - The call/put volume ratio for WBD was 5.67, ranking higher than 99% of readings from the past year, suggesting a strong preference for calls over puts [4]
Warner Bros. Discovery to split into two public companies by next year
CNBC· 2025-06-09 11:04
Core Viewpoint - Warner Bros. Discovery plans to split into two public companies by next year, responding to the industry's shift from cable to streaming [1] Group 1: Company Structure - The split will create two entities: Streaming and Studios, which will include movie properties and HBO Max, and Global Networks, which will encompass CNN, TNT Sports, and Discovery [1] - CEO David Zaslav will lead the Streaming and Studios company, while current CFO Gunnar Wiedenfels will become CEO of Global Networks [2] Group 2: Timeline and Market Impact - The company expects to complete the split by the middle of 2026 [2] - Warner Bros. Discovery shares were halted in extended trading on the announcement [2]