Warner Bros. Discovery, Inc. today revealed that its Board of Directors has approved a new corporate structure aimed at increasing strategic flexibility and creating potential opportunities to unlock additional shareholder value.
The restructured organization will consist of two distinct operating divisions under Warner Bros. Discovery’s parent company:
- Global Linear Networks: A leading linear television business, home to some of the most well-known networks delivering news, sports, scripted, and unscripted content.
- Streaming & Studios: A globally scaled streaming service and prominent entertainment studios, encompassing a portfolio of some of the world’s most cherished intellectual properties.
The new structure is designed to provide clearer focus for each division, allowing them to execute on specific operational and strategic goals. The Global Linear Networks division will concentrate on maximizing profitability and free cash flow, with an emphasis on continued debt reduction. Meanwhile, the Streaming & Studios division will focus on growth and delivering strong returns on invested capital. The new model is also expected to offer increased flexibility to pursue further value-creating opportunities in a rapidly changing media landscape.
“Since the creation of Warner Bros. Discovery, we have transformed our business, strengthened our financial position, and provided world-class entertainment to global audiences,” said David Zaslav, President and CEO of Warner Bros. Discovery. “This new corporate structure aligns our divisions to better meet their distinct goals—profitable growth for Global Linear Networks and continued expansion and storytelling for Streaming & Studios. We believe this structure will enhance our ability to build on our momentum and deliver significant shareholder value.”
Warner Bros. Discovery plans to begin implementing the new corporate structure immediately, with completion expected by mid-2025.
The Company also intends to continue evolving its Board to support the execution of its strategy and drive further shareholder value creation.
