Warner Bros. Discovery says separation remains ‘on track’

Warner Bros. Discovery (WBD) said: “While our separation into Warner Bros. (Streaming & Studios) and Discovery Global (Global Networks) remains on track to be completed by mid-2026, our Board of Directors announced on October 21st its decision to initiate a review of strategic alternatives. The Board is evaluating a broad range of strategic options, including proceeding with the planned separation, a potential transaction for the entire company, or separate transactions for the Warner Bros. and/or Discovery Global businesses. As part of the review, we will also consider an alternative separation structure that would enable a merger transaction involving Warner Bros., while Discovery Global would be spun off to our shareholders. There is no deadline or definitive timetable regarding this strategic review process. We do not intend to make any further announcements unless and until the Board approves a specific transaction or otherwise determines further disclosure is appropriate or necessary.”