The president and chief executive officer of Warner Bros. Discovery David Zaslav arrives for the world premiere of “The Flash” at Ovation Hollywood in Hollywood, California, June 12, 2023.
Michael Tran | AFP | Getty images
Discovery Warner Bros. THURSDAY announced a restructuring plan to segment its activities into linear units and streaming in a decision that could simplify future consolidation.
The actions of Warner Bros. Discovery won 15% on Thursday.
The company's new Global Linear Networks of the company will house its networks of networks of news, sports, scripted and non -scripted programs such as CNN, TBS, TNT, HGTV and Food Network. A streaming and studios unit will house movie studios and the Warner Bros.
According to a person who knows the question.
The update comes from weeks after Comcast announced that it would be Spin out its wired networksIncluding CNBC, MSNBC, E!, Syfy, Golf Channel, United States and Oxygen.
“We continue to prioritize the insurance of our global linear networks activities is well placed to continue generating available cash flows, while our streaming and studios activities focus on growth in growth by telling the most convincing stories in the world,” said David Zaslav, CEO of Warner Bros. Discovery said in a press release.
Warner Bros. Discovery plans to finish restructuring in the middle of next year.
Disclosure: Comcast is the parent company of CNBC.
– Alex Sherman of CNBC contributed to this report.
