(Reuters)-. Warner Bros Discovery said that the two companies created by the separation of their study units, streaming and cable television will be called Warner Bros and Global Discovery, undoing a fusion in less than four years due to seismic changes in the entertainment industry.
Warner Bros will host the crown jewels of the WBD entertainment library, including Warner Bros and DC Studios, as well as the HBO Max streaming service, the company said in a statement.
The Global Networks Division will include its cable, CNN and TNT Sports channels, as well as the discovery+streaming service, which will be called Discovery Global.
The split, which will lead to two companies that will quote on the stock market, was announced in June and is expected to be completed in mid -2026. It is the disintegration of Warnermedia and Discovery, with the aim of growing the streaming and studies business without the ballast of the Decline networks.
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Like other entertainment companies, WBD faces a fall in the audience rates and the income of their cable channels. Consumers have been canceling their pay television subscriptions in favor of streaming services.
The rupture represents the most recent dismantling of decades of media consolidation that gave rise to global conglomerates that cover from the creation of content to its distribution and, in some cases, the telecommunications.
Comcast is splitting most of its Nbcuniversal cable channel portfolio in a separate company called Versant. Lionsgate Entertainment completed in May the separation of its Starz cable channel from its film and television studio.
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