Warner Bros. Discovery plans to split into two public companies by next year, the media giant announced Monday, the latest upheaval in the industry as consumers transition from cable to streaming.

Warner Bros. Discovery, which faces a heavy debt load, has been undergoing a major restructuring, one it expects to complete by the end of 2024.

“Warner Bros. Discovery will aspire to be the most innovative, exciting and fun place to tell stories in the world – that is what the company will be about,” Zaslav said in a statement.

Warner Bros Discovery CEO David Zaslav met with Paramount Global CEO Bob Bakish to discuss a possible merger between the two companies, according to Axios. Getty Images for The New York Times One ...

Simply put, Hollywood is worn out from what one analyst describes as the “media M&A merry-go-round” of recent years — notably AT&T and Time Warner in 2018, Disney and 21st Century Fox in ...

Warner Bros. Discovery shares traded up at much as 13% in intraday trading Monday after the spinoff was announced. Although those gains have since been pared, the stock remains up about 5% since ...

Warner Bros. Discovery (WBD -1.49%) has garnered a lot of attention after the company canceled the release of two HBO Max projects that were in the last stages of production. The first is Scoob!

Warner Bros. Discovery Chief Executive David Zaslav, in the run-up to the merger, touted to Wall Street that his team would find $3 billion in annual cost savings after the merger.

Along with the rebrand, Warner Bros. Discovery also announced Max would be available in three tiers -- a $9.99-a-month HD ad-supported plan, a $15.99 HD ad-free plan, and an all-new $19.99 4K ad ...

Shares of Warner Bros. Discovery surged nearly 1.5% as of 12:30 p.m. Tuesday, climbing to just under $8.70, while Paramount Global’s shares ticked up over 1.2% to just under $11.25. Further Reading ...

If Warner Bros. Discovery does, in fact, make these projects tax write-offs, it means that there is sadly a very good chance these movies never see the light of day.

Warner Bros. Discovery reports that it will incur up to $1.5 billion in costs to shrink the company, cancel programming and provide severance packages to laid-off workers, among other expenses.