Los Angeles, June 10 -- in a landmark restructuring move, Warner Bros. Discovery announced its plan to divide into two separate publicly-traded companies, one dedicated to streaming and content creation and the other to traditional television networks.
The company will separate its operations into two core businesses: one centred on streaming and content production, the other focused on traditional linear television.
CEO David Zaslav will remain at the helm of the streaming centric division, while Chief Financial Officer Gunnar Wiedenfels, known for his aggressive cost-cutting tactics, will lead the legacy television entity.
The separation is expected to be completed by mid-2026, subject to closing and other conditions, and the bulk of...