:max_bytes(150000):strip_icc()/GettyImages-2215089256-3406a454c62c4659b6265f19cfb60031.jpg?w=1920&resize=1920,1267&ssl=1 "Warner Bros Discovery Stock Jumps on Plan to Split Studios From TV Business")
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key takeaways
- Warner Brothers Discovery on Monday announced a plan to divide into two separate companies.
- One company will be made up of the company’s studio and HBO Max streaming service, while the other will be the owners of their TV channels such as CNN and TNT.
- Partition is expected to be completed by the middle of next year.
Warner Brothers Discovery (WBD) is dividing into two separate companies, the media group announced on Monday, sent more to its shares.
The company will be divided into two separate public companies by the middle of next year. A company, streaming and studios, will include Warner Brothers movie and TV studios, as well as recently with HBO Max Streaming Services, while the global network will be made up of WBD’s cable channels such as TNT, CNN and Discovery+ Streaming Services.
WBD CEO David Jaslav, who had a pay package of about $ 52 million recently rejected by shareholders, will serve as CEOs of Streaming and Studio segment, while CFO Gunnar will play the CEO in Widennefales Global Networks.
Partition is expected to be completed by the middle of next year, the company said in a statement.
In December, the company announced that it would restructure a TV-centered and a film and its operation in a filming-centric section, and said it was open to divide the company over the long term. Last month, a report that Split announced was likely to send WBD shares up to 5%soon.
Warner Brothers Discovery had about 9% in the shares of premarket trading. He entered about 7% day since the beginning of the year.
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