Warner Bros. Discovery will be implementing a new corporate structure to serve as the parent company for two distinct operating divisions: Global Linear Networks for its linear television business, and Streaming & Studios for its global streaming operations.
“Since the combination that created Warner Bros. Discovery, we have transformed our business and improved our financial position while providing world class entertainment to global audiences,” said Warner Bros. Discovery president and CEO, David Zaslav. “We continue to prioritize ensuring our Global Linear Networks business is well positioned to continue to drive free cash flow, while our Streaming & Studios business focuses on driving growth by telling the world’s most compelling stories. Our new corporate structure better aligns our organization and enhances our flexibility with potential future strategic opportunities across an evolving media landscape, help us build on our momentum and create opportunities as we evaluate all avenues to deliver significant shareholder value.”
WBD expects to start the foundational steps immediately and to complete the implementation of the new corporate structure by mid-2025.
Last summer, WBD posted a $9.99 billion loss in its second quarter and revenue fell 6.2 percent. The slide was mainly due to a loss of value of the company’s linear TV assets.
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