Less than three years after a splashy mega-merger, Warner Bros. Discovery is breaking up—amicably, but expensively—separate into two companies: one that’s all about streaming, and the other that’s got cable networks and global channels. CEO David Zaslav will helm the sexy half (think HBO, DC Studios, and the film studio itself), while the traditional cable division, including CNN and TNT, goes to CFO Gunnar Wiedenfels.
With cable declining and streaming still booming, Warner hopes that splitting its personalities might finally give shareholders something to smile about. Grab your popcorn—you don’t want to miss Hollywood’s big corporate breakup drama.
