Warner Bros. will be divided. Discovery to media giants

Warner Bros. Discovery (WBD) It will be divided into two separate media companies. The new structure will see one of the one entity that maintains Warner Bros, TV studios and games, along with New Line Cinema, DC Studios, HBO and HBO Max, while the other will retain the full company portfolio of live cable channels, which include many home names such as CNN, HGTV, Carton Network and Discovery, TCL and others.

in WBD refers to these two entities as “global WBD networks” and “WBD Streaming & Studios”, and highlights the strengths of each portfolio. The company indicates that the newly established entities will produce a healthy, free cash flow and intend to be inserted as companies circulating for the public. This comes just three years after Between Warnermedia and discovery.

David Zassallav, the current CEO and head of WBD, will be the president and executive of Streaming & Studios. Gunnar Wiedenfels, the current financial manager of WBD, will work as president and executive director of Global Networks. Both remain in their current roles until the chapter is completed.

“The cultural importance of this great company and the influential stories that it brought to more than a century has touched countless people around the world. It is a legacy that we will proud of in this next chapter of our famous history,” . “By working as two distinguished companies and futures in the future, we enable these iconic brands with the most clear focus and strategic flexibility they need to compete more effectively in the advanced media scene today.”

in WBD announced that it will take a loan of $ 17.5 billion from JP Morgan to help request a cash tender and approve all suspended bonds about 35.5 billion dollars. This means that he will purchase some bonds while asking bond holders to reduce their conditions, and will provide cash incentives for those who agree to sell or restructure. according to The majority of the total debts will be held by global networks, while an “unimportant part” will remain with Streaming & Studios. The careful collapse of the debt remains in each entity to be seen, pending the results of the restructuring of the corporate debts.