Warner Bros. Discovery Announces Major Split into Two Companies Transforming Atlanta’s Media Landscape
On Monday, Warner Bros. Discovery announced plans to split into two companies, separating its studio businesses and HBO Max streaming service from traditional cable networks like CNN and Discovery. This restructuring follows the company’s recent $9.1 billion write-down, reflecting the declining value of its networks, and aims to enhance focus and strategic flexibility in a competitive media landscape. The separation is expected to be finalized by mid-2024, with David Zaslav leading the Studios & Streaming unit and Gunnar Wiedenfels heading the Global Networks business.
Warner Bros. Discovery announces a major split on Monday, October 30, 2023, dividing its Atlanta-based networks, including CNN and HBO Max, into two distinct companies. The move follows a $9.1 billion write-down and aims to enhance strategic focus in the evolving media landscape. Stay updated on this breaking story at ajc.com.
Source: ATL Newsroom