The decision to spin off one company dedicated to streaming and a second dedicated to traditional television comes at a time when the company is seeing a decline in its overall business.
The new Streaming & Studios group will include Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO and HBO Max, as well as their film and TV libraries, Euronews reported.
The company's Global Networks will include CNN, TNT Sports, Discovery+ and other digital products.
The current chief executive of Warner Bros. Discovery David Zaslav will continue to head Streaming & Studios, and the company's chief financial officer Gunnar Wiedenfels will become Global Networks CEO. | BGNES