WBD announced it will be splitting into two separate companies.
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00:00Warner Brothers Discovery is getting a makeover. The company announced it will be splitting into two separate publicly traded companies.
00:06One company will house WBD's movies and streaming units, while the other will be home to all of its networks, which include TNT Sports, CNN, and Discovery.
00:16Current Warner Brothers Discovery CEO David Zaslav, who will lead the new streaming and studios company, said of the move,
00:23By operating as two distinct and optimized companies in the future, we are empowering these iconic brands with the sharper focus and strategic flexibility they need to compete most effectively in today's evolving media landscape.
00:37But WBD is not the first to explore a split, as customers continue to cut the cable cord.
00:43Last year, Comcast said it would spin off its NBC Universal cable networks into a separate company.
00:49And Disney had previously toyed with the idea of selling its traditional TV assets.
00:54The split is expected to be completed by the middle of 2026.
00:59That'll do it for your daily briefing. From New York City, I'm Caroline Woods with The Street.