by Thinus Ferreira
On Thursday afternoon Warner Bros. Discovery announced that it's restructuring again, bundling its linear TV channel networks into one group known as Global Linear Networks, while keeping Streaming & Studios separate, as WBD reorganises its corporate structure from three groups into two.
The move from Warner Bros. Discovery comes half a month after Comcast announced in mid-November that it's getting rid of its traditional NBCUniversal pay-TV channels, carried by international pay-TV operators like MultiChoice's DStv, which it is selling off as its own company.
Warner Bros. Discovery in a Thursday afternoon corporate press statement says the corporate reorganisation, expected to be completed by mid-2025, "is designed to enhance its strategic flexibility and create potential opportunities to unlock additional shareholder value".
David Zaslav, WBD CEO, says "Since the combination that created Warner Bros. Discovery, we have transformed our business and improved our financial position while providing world-class entertainment to global audiences".
"We continue to prioritise, ensuring our Global Linear Networks business is well positioned to continue to drive free cash flow, while our Streaming & Studios business focuses on driving growth by telling the world's most compelling stories."
"Our new corporate structure better aligns our organisation and enhances our flexibility with potential future strategic opportunities across an evolving media landscape, help us build on our momentum and create opportunities as we evaluate all avenues to deliver significant shareholder value."
According to Warner Bros. Discovery, "the new corporate structure to enhance clarity and focus, with each division positioned to deliver on its specific strategic and operational objectives while executing on initiatives to further key priorities for consolidated Warner Bros. Discovery."
According to Warner Bros. Discovery, Global Linear Networks will be its linear television business that runs pay-TV channels like Discovery Channel, CNN International, TNT, HBO, HGTV, Food Network, OWN, Investigation Discovery (ID), TLC, Travel Channel, Animal Planet and Cartoon Network.
Streaming & Studios will be "a globally scaled streaming platform and storied film and entertainment studios with with a portfolio of the world's most-beloved intellectual property" like Max, Warner Bros. Mition Picture Group, Warner Bros. Pictures Animation, and New Line Cinema.
