Warner Bros. Discovery (WBD) will split into two companies by 2026: one focusing on studios and streaming (led by CEO David Zaslav), and the other on linear TV networks (led by CFO Gunnar Wiedenfels). The split aims to accelerate growth for each entity, freeing them for mergers and acquisitions. While Wiedenfels' appointment to lead the networks division signals a potential focus on financial efficiency, Zaslav's future with the studios and streaming company remains uncertain, with potential successors including Casey Bloys and Channing Dungey. The move follows a recent credit rating downgrade and low stock price, sparking investor concerns.

Prepared by Christopher Adams and reviewed by editorial team.