Warner Bros. Discovery is officially splitting into two companies. Warner Bros. has been behind some of the most major films of the last few years, including Barbie and more. The company also owns HBO and Max, a leading streaming service behind hit series such as House of the Dragon and The White Lotus. This year, the company has already had some major theatrical release hits including A Minecraft Movie and Sinners, Ryan Coogler's genre-blending horror movie that was an unexpected sensation upon its April release.

As per Warner Bros. Discovery, the massive production company is officially being split into two. These two groups will now be separate, publicly traded companies titled Streaming & Studios and Global Networks. The Streaming & Studios division will be made up of Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO, and HBO Max. It will also host their movie and TV libraries. For Global Networks, this leaves premiere entertainment, sports, and news television brands, including CNN and more.

More to come...

Source: Warner Bros. Discovery