Warner Bros. Discovery is reorganizing its business into two separate units: one for linear networks, and the other for streaming and studios business. The move, which is set to be complete by mid-2025, is meant to help the company “pursue further value creation,” potentially bringing it closer to breaking off its linear business entirely.
Over the summer, rumors suggested that WBD planned on severing its streaming business from its legacy networks completely, freeing Max from the company’s mountain of debt. The company’s linear networks have been struggling for a while now, with WBD taking a $9.1 billion writedown on its channels in August after TNT lost live NBA games to Amazon Prime Video.
WBD isn’t the only one shaking up its cable business. Last month, Comcast announced that it’s spinning off its cable TV channels into a new company. As noted by Deadline, Disney CEO Bob Iger also said last year that the company’s linear networks “may not be core” to its business.
WBD will move forward with the “foundational steps” of the new structure now, which CEO David Zaslav said will open up “potential future strategic opportunities across an evolving media landscape.”