Warner Bros. Discovery announced Thursday that it is creating a new corporate structure to bolster "strategic flexibility" by creating two distinct operations - global linear networks and streaming and studios.
"Warner Bros. Discovery expects the new corporate structure to enhance clarity and focus, with each division positioned to deliver on its specific strategic and operational objectives while executing on initiatives to further key priorities for consolidated Warner Bros. Discovery," the company said.
The global linear division will operate "some of the most renowned networks with compelling news, sports, scripted and unscripted programming," including TNT, TBS and Discovery Channel.
The streaming platform, building on its "portfolio of the world's most beloved intellectual property," will focus on driving growth and strong returns, the company said.
The new structure is expected to be in place by mid-2025.
"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 in a statement.
"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," he said.
