Warner Bros. Discovery Announces Major Split into Two Companies Transforming Atlanta's Media Landscape

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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.