WBD announces corporate reorganization into two divisions to unlock shareholder value

Warner Bros. Discovery, Inc.

Company will create two operating divisions: Global Linear Networks and Streaming & Studios.
Reorganization aims to enhance strategic flexibility and unlock shareholder value; implementation expected by mid-2025.
Global Linear Networks to focus on profitability and free cash flow; Streaming & Studios to focus on growth and returns.
Financial advisors: J.P. Morgan, Evercore, Guggenheim; legal counsel: Kirkland & Ellis, Wachtell Lipton.

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