Warner Bros. Discovery share price, split: Top points you need to know
Warner Bros. Discovery
will split into two public companies by next year, calving off its cable operations from its streaming service. The split is expected to be completed by the middle of next year. It still needs final approval from the Warner Bros. Discovery board. Shares jumped more than 8 per cent before the US stock market open.
Warner Bros. Discovery Split
- Who Gets What?
Warner Bros. Discovery said on Monday that Streaming & Studios will include Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO, and HBO Max, as well as their film and television libraries.
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The Global Networks company will include CNN, TNT Sports in the U.S., and Discovery, top free-to-air channels across Europe, and digital products such as the Discovery+ streaming service and Bleacher Report.
Warner Bros. Discovery CEO David Zaslav will serve as CEO of Streaming & Studios. Gunnar Wiedenfels, chief financial officer of Warner Bros. Discovery, will serve as CEO of Global Networks. Both will continue in their current roles until the separation.
Live Events
Just days ago Warner Bros. Discovery shareholders voted to reject the 2024 pay packages of some executives, including Zaslav's pay package of more than $51 million. The vote is symbolic, as it is nonbinding.
Warner Bros. Discovery said in December that it was implementing a restructuring plan that would have Warner Bros. Discovery serve as the parent company for two operating divisions, Global Linear Networks and Streaming & Studios. The announcement was taken as a preview of the separation of divisions that was announced Monday.
FAQs
Q1. Which company is getting into split?
A1. Warner Bros. Discovery will split into two public companies by next year, calving off its cable operations from its streaming service.
Q2. What do we know about Warner Bros. Discovery?
A2. Warner Bros. Discovery said Monday that Streaming & Studios will include Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO, and HBO Max, as well as their film and television libraries. The Global Networks company will include CNN, TNT Sports in the U.S., and Discovery, top free-to-air channels across Europe, and digital products such as the Discovery+ streaming service and Bleacher Report.
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