Warner Bros. Discovery To Officially Split Into Two Companies; "Majority" Of Debt To Be Taken Off Movie Studio

Warner Bros. Discovery To Officially Split Into Two Companies; "Majority" Of Debt To Be Taken Off Movie Studio

It’s been announced that Warner Bros. Discovery will be split into two publicly traded companies. Here’s what the move means for DC Studios and HBO.

By DanielKlissmman - Jun 09, 2025 01:06 PM EST
Filed Under: DC Studios
Source: Deadline

There's a massive shift coming for Warner Bros. Discovery, as it's been announced that it will be split into two separate entities. WBD will now exist as two publicly traded companies — one overseen by David Zaslav and the other by WBD Chief Financial Officer Gunnar Wiedenfels.

Zaslav will be President and CEO of one of the companies, known as Streaming & Studios. This new entity will be comprised of DC Studios, HBO Max, HBO, Warner Bros. Motion Picture Group., Warner Bros. Television and Warner Bros. Games. It will also include WBD's full film and TV library. 

Wiedenfels will be President and CEO of the other company, called Global Networks, which, as Warner Bros. Discovery explained in a press release, will, "include premier entertainment, sports and news television brands around the world including CNN, TNT Sports in the U.S., and Discovery, top free-to-air channels across Europe, and digital products such as the profitable Discovery+ streaming service and Bleacher Report." 

While the move was announced today, the split will offically take effect in mid-2026. In the meantime, Zaslav and Wiedenfels will remain in their current roles at the company as CEO and CFO, respectively. 

In a statement, Zaslav said the move would give "sharper focus" to WBD's brands, and a better ability to compete in the entertainment industry: 

"The cultural significance of this great company and the impactful stories it has brought to life for more than a century have touched countless people all over the world. It’s a treasured legacy we will proudly continue in this next chapter of our celebrated history. By operating as two distinct and optimized companies in the future, we are empowering these iconic brands with the sharper focus and strategic flexibility they need to compete most effectively in today's evolving media landscape."

In his statement, Wiedenfels shared the optimism expressed by Zaslav, explaining that the deal would allow both companies to take advantage of their strengths:

"This separation will invigorate each company by enabling them to leverage their strengths and specific financial profiles. This will also allow each company to pursue important investment opportunities and drive shareholder value. At Global Networks, we will focus on further identifying innovative ways to work with distribution partners to create value for both linear and streaming viewers globally while maximizing our network assets and driving free cash flow."

Furthermore, Chair of Warner Bros. Discovery Board of Directors Samuel A. Di Piazza, Jr. stated the company's Board of Directors was enthuastic about the split: "We committed to shareholders to identify the best strategy to realize the full value of our exciting portfolio of assets, and the Board believes this transaction is a great outcome for WBD shareholders. This announcement reflects the Board’s ongoing efforts to evaluate and pursue opportunities that enhance shareholder value."

According to Gunnar Wiedenfels (via The Hollywood Reporter), the move will also likely be used to put the "majority" of the company's $37 billion debt into Global Networks. As the CFO explained during a conference call: 

"It's too early to talk about a target capital structure. We haven't made final decisions yet, and you know, there's a lot we need to work through between now and when this deal closes. A couple of things can be said, though. Number one, it's safe to assume that the majority of the debt is going to live with Global Networks and a smaller portion — but a not-insignificant portion — on Streaming & Studios as well.”

From the announcement, nothing looks to change for James Gunn and Peter Safran's DC Studios, which is good news, given how the studio is getting ready to release its first tentpole, Superman, in July, and a slate of new films and TV shows following that, including Peacemaker Season 2, Supergirl, Lanterns and Clayface.

Superman will release in theaters on July 11, 2025.  

What do you think of the move to split Warner Bros. Discovery into two companies? Share your thoughts in the comments.

SUPERMAN Early Box Office Forecast Revealed; New A Day At Work With Jimmy Olsen Video Released
Related:

SUPERMAN Early Box Office Forecast Revealed; New "A Day At Work With Jimmy Olsen" Video Released

SUPERMAN: James Gunn Shares New BTS Look At Metamorpho And The 'Justice Gang'
Recommended For You:

SUPERMAN: James Gunn Shares New BTS Look At Metamorpho And The 'Justice Gang'

DISCLAIMER: As a user generated site and platform, ComicBookMovie.com is protected under the DMCA (Digital Millenium Copyright Act) and "Safe Harbor" provisions.

This post was submitted by a user who has agreed to our Terms of Service and Community Guidelines. ComicBookMovie.com will disable users who knowingly commit plagiarism, piracy, trademark or copyright infringement. Please CONTACT US for expeditious removal of copyrighted/trademarked content. CLICK HERE to learn more about our copyright and trademark policies.

Note that ComicBookMovie.com, and/or the user who contributed this post, may earn commissions or revenue through clicks or purchases made through any third-party links contained within the content above.

1 2
AllsGood
AllsGood - 6/9/2025, 1:04 PM
Warner Bros. Discovery to Officially Split into Two Companies; "Majority" Of Debt to Be Taken Off Movie Studio

User Comment Image
ObserverIO
ObserverIO - 6/9/2025, 1:40 PM
@AllsGood - Yeah, lol guess which one's gonna go bust, the one with the sizeable portion of debt or the one with the teeny tiny portion?
PatientXero
PatientXero - 6/9/2025, 1:04 PM
Good thing?
Usernametaken
Usernametaken - 6/9/2025, 1:28 PM
@PatientXero - I'm trying to think of one reason that this is a bad thing.

Haven't found it yet.
xstryker
xstryker - 6/9/2025, 6:41 PM
@Usernametaken - David Zaslav is still in charge of the creative process, that’s definitely not a good thing. Looks like he found a way to extricate himself from the garbage chute that was the Discovery channel, so he can focus which Warner/DC/HBO properties he can cancel as tax write-offs. Furthermore, I’m no business expert, but this is the opposite of the point of Discovery and Warner merging in the first place, and it leaves the Warner side with fewer pieces than they had before. Less debt is good, but it sounds like it will be merely an opportunity for Zaslav to incur much deeper debt and then declare bankruptcy and bail, Toys R Us style. I expect eventually Zaslav’s end goal, after using debt to hand money via “stock buybacks” to wealthy shareholders including himself, is to cash out by selling WB/DC/HBO to Universal, Paramount, or Sony (or one of the streamers, ie Netflix, Amazon, or Apple). Perhaps the same plan at the other entity will ship the surplus cable and streaming networks to another one of those, or Disney. Shipping CNN and TNT Sports to Fox would be likely to bring an antitrust suit, as would handing DC and WB to Disney. Splitting WBD into two entities, in fact, and thereby selling it to two different companies, is itself likely to be a strategy to sell the company without incurring antitrust action.
JurassicClunge
JurassicClunge - 6/9/2025, 1:04 PM
Merge and split, merge and split just like bobatwats and his left hand 🤡😘🤡
ObserverIO
ObserverIO - 6/9/2025, 1:42 PM
@JurassicClunge - I've genuinely been wondering who you've been talking about this whole time, but the penny just dropped, lol.
JurassicClunge
JurassicClunge - 6/9/2025, 2:27 PM
@ObserverIO - i love him really 😅😩 I'm.sure he hates me 😌
ObserverIO
ObserverIO - 6/9/2025, 5:44 PM
@JurassicClunge - same. Can't remember why for the life of me.
Timerider
Timerider - 6/9/2025, 1:06 PM
They can stop complaining about their finances and budgets now.
AllsGood
AllsGood - 6/9/2025, 1:09 PM
@Timerider - Life or Death. James Gunn's Superman has to be a Huge Box Hit for the DCU to survive.
AwesomePromoz
AwesomePromoz - 6/9/2025, 1:11 PM
@AllsGood - Rubbish.
AllsGood
AllsGood - 6/9/2025, 1:15 PM
@AwesomePromoz - Unfortunately, it's that serious for the DCU.
AllsGood
AllsGood - 6/9/2025, 1:20 PM
@AwesomePromoz - Wilding had this on his list. On why we should go see Superman and F4.
JacobsLadder
JacobsLadder - 6/9/2025, 1:22 PM
@AllsGood - you're probably not wrong.
AwesomePromoz
AwesomePromoz - 6/9/2025, 1:23 PM
@AllsGood - You're talking out of your arsehole.
BeNice123
BeNice123 - 6/9/2025, 1:26 PM
@AllsGood - it will be. 🤞🏽
SonOfAGif
SonOfAGif - 6/9/2025, 1:08 PM
David Zaslav is the problem.
Kadara
Kadara - 6/9/2025, 1:20 PM
@SonOfAGif - I'm pretty sure he's behind the brilliant marketing of HBO Max, to Max, only to change it back!
xfan320
xfan320 - 6/9/2025, 1:12 PM
Tax write off?
Timerider
Timerider - 6/9/2025, 1:17 PM
@xfan320 - you mean like Batgirl, yes
Kadara
Kadara - 6/9/2025, 1:19 PM
David Zaslav, after ruining WB and turning CNN into Fox News light, is still somehow employed; the definition of failing upwards.
EskimoJ
EskimoJ - 6/9/2025, 1:27 PM
@Kadara - The real problem is the unqualified customer service agent who got the job based off an agenda.
HistoryofMatt
HistoryofMatt - 6/9/2025, 2:14 PM
@Kadara - If you think CNN is Fox News-lite, I mean... wow. You just told on yourself in the biggest way. 😂
jst5
jst5 - 6/9/2025, 2:30 PM
@HistoryofMatt - Yea that statement was pure gold ....probably read that on Twitter and ran with it though.
Kadara
Kadara - 6/9/2025, 2:33 PM
@HistoryofMatt - They tried to become that at least and that's why their ratings are in the toilet. It literally was was former CEO Chris Licht was trying to accomplish, which is why got rid of outspoken people like Don Lemon, and Chris Cuomo. Have you even watched CNN lately? They are still trying to attract the MAGA base by doing bs both sides and having Trump sycophants like Scott Jennings on for their "inside". Leading them to both sides of the political spectrum.
Kadara
Kadara - 6/9/2025, 2:33 PM
@EskimoJ - LMAO!!! That's not what my reviews say but whatever helps you get through the day 😂
HistoryofMatt
HistoryofMatt - 6/9/2025, 2:42 PM
@Kadara - Again... you're telling on yourself in a big way. I knew exactly who you were referring to in Scott Jennings.

That's the problem with Woke people: The purity demands. There is nothing on CNN approaching anything that they're trying to "attract MAGA." Scott Jennings is the only voice of his kind on the entire network. In 24 hours of programming, he gets a little time, maybe half an hour... MAYBE an hour... out of those 24 hours... on Abby Phillip's terrible show or in split screens on another show to say what he thinks.

It's hilarious that you think that makes CNN "Fox News-lite." Between 30 minutes to an hour of time in 24 hours. 😂
JacobsLadder
JacobsLadder - 6/9/2025, 1:22 PM
"profitable Discovery+ streaming service" - I actually can believe this. The budget of their shows are nothing like what Disney or Prime would spend on something like Andor or Rings of Power. How much can Naked and Afraid or Moonshiners cost to make?
xstryker
xstryker - 6/9/2025, 6:46 PM
@JacobsLadder - but what on earth is the subscriber base for that like? Anyone can churn out crap like that, why subscribe for it?
JacobsLadder
JacobsLadder - 6/9/2025, 7:29 PM
@xstryker - I don't know. Shows like MILF Manor exist.
ObserverIO
ObserverIO - 6/9/2025, 1:22 PM
Zaslav: Hey AI, what do we call the company that deals with streaming and studios?

AI: Streaming & Studios.

Zaslav: Brilliant! A human could have never thought of that.
Wahhvacado
Wahhvacado - 6/9/2025, 1:26 PM
User Comment Image
ShimmyShimmyYA
ShimmyShimmyYA - 6/9/2025, 1:42 PM
So the problem gets to continue being the problem nice
1 2

Please log in to post comments.

Don't have an account?
Please Register.

View Recorder
OSZAR »