Warner Bros. is going to split into two companies

Warner Bros Discovery (WBD) has announced that it will be broken into two companies: Global Networks and Warner Bros Discovery. CEO David Zaslav will serve as President and CEO of Global Networks and CFO Gunnar Wiedenfels will serve as president and CEO of Warner Bros Discovery. Zaslav had bought WBD in 2016 for $12 billion from AT&T, who owned CNN, among others.