Warner Bros. Discovery Restructuring To Separate Cable & Streaming Businesses

Warner Bros. Discovery is streamlining its operations, announcing a restructure that will separate its cable operations from streaming. As Deadline reports, the company announced on Thursday that it will be undergoing a corporate restructure that will see its three divisions become two that sets a separation between its linear/cable networks and the streaming & studio operations.

The two new operating units will be labeled as Global Linear Networks and Streaming & Studios. Global Linear Networks will include its cable TV business that includes including TNT, TBS, Animal Planet and CNN while the Streaming & Studios will include Max and Discovery+ alongside its film studios like Warner Bros Pictures and New Line Cinema. HBO will still have a linear presence but will be part of Streaming & Studios.

The move is one that analysts believe could be the network moving toward a potential sale or spinoff of its TV business. WBD said in a press release that the move is “designed to enhance its strategic flexibility and create potential opportunities to unlock additional shareholder value.” The plan is for the new structure to be in place by mid-2025.

The decision comes soon after NBCUniversal announced plans to spinoff most of its cable networks into a stand-alone company. WBD and NBCUniversal have previously discussed potential collaboration on a streaming level, though that has not yet happened.

Wrestling fans know WBD as the network partner of AEW, which signed a new multi-year media rights deal with WBD that will include AEW TV and PPVs being aired on Max.