09:53 AM EDT, 06/09/2025 (MT Newswires) -- (Updates to add the latest stock price movement in the headline and the first paragraph.)

Warner Bros. Discovery ( WBD ) shares rose more than 10% in recent Monday trading after the company said it intends to separate into two publicly traded media companies by mid-2026.

The Streaming & Studios company will comprise Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO, and HBO Max, along with their film and television libraries, the company said.

Global Networks will consist of entertainment, sports and news television brands worldwide, including CNN, TNT Sports in the US, and Discovery, free-to-air channels across Europe, and digital products like Discovery+ streaming service and Bleacher Report, Warner Bros. Discovery ( WBD ) added.

Warner Bros. Discovery ( WBD ) CEO David Zaslav will serve as the CEO and president of Streaming & Studios, while CFO Gunnar Wiedenfels will act as the CEO and president of Global Networks, with both continuing in their current roles until the separation, the company said.

Warner Bros. Discovery ( WBD ) also said Global Networks will retain up to a 20% share in Streaming & Studios that will be monetized later to reduce debt.

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