Breaking Up Better: Warner Brothers Discovery Plans Mid‑2026 Spinoff

Warner Brothers Discovery (WBD) has announced plans to split into two standalone, publicly traded companies by mid‑2026, separating its Streaming & Studios division (Warner Bros. Pictures, HBO, HBO Max, DC, and gaming) from its Global Networks division (CNN, TNT, TBS, Discovery Channel, HGTV, and more). The split will be tax-free to shareholders and will result in the…