消息稱 Warner Bros. Discovery 將拆分為兩家獨立上市公司
華納兄弟探索 Warner Bros. Discovery（WBD）正式宣布一項重大重組計畫，預計在 2026 年中拆分為兩家獨立的上市公司。此項本週稍早公布的策略性舉措，旨在應對傳統有線電視轉向串流服務的趨勢，以提升其多元資產的專注度與策略彈性。
新成立的公司將涵蓋 WBD 旗下優質內容創作部門，包括 HBO、HBO Max、華納兄弟電視與電影集團（Warner Bros. Television and Motion Picture Group）、DC Studios、華納兄弟遊戲（Warner Bros. Games），以及其龐大的影視圖書館。Warner Bros. Discovery 現任執行長 David Zaslav 將擔任此部門的總裁兼執行長。這家公司將專注於全球擴展 HBO Max，並投資世界級的節目內容。
另一個新公司將整合 WBD 旗下傳統線性電視網絡及其數位延伸業務。這包括 CNN、TNT Sports（美國）、Discovery 等主要品牌，以及歐洲各地的頂級免費電視頻道，同時也將納入 Discovery+ 串流服務和 Bleacher Report 等獲利豐厚的數位產品。現任 WBD 財務長 Gunnar Wiedenfels 將擔任全球網絡總裁兼執行長，專注於最大化網絡資產效益並推動自由現金流。
這次拆分實際上解除了三年前耗資 $430 億美元合併成立華納兄弟探索的大部分交易，該合併曾使公司背負沉重債務。此舉被視為對「剪線潮」（cord-cutting）現象的直接回應，該現象導致傳統有線電視的收視率和獲利能力下降，而串流服務則持續吸引數億用戶。透過建立兩家獨立公司，WBD 旨在讓每家公司都能追求特定的投資機會，利用其獨特的財務狀況，並提升股東價值。
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