Key Takeaways Warner Bros. Discovery on Monday announced plans to split into two separate companies, sending its shares higher in morning trading.One company will be made up of the company's studios and HBO Max streaming service,

On June 9, Zaslav announced a plan that he had already signaled to Wall Street was coming: Warner Bros. Discovery would be breaking up. The move, expected to be completed by mid-2026, will create two separate public companies.

The move effectively undoes much of Warner Media and Discovery Communications’ 2022 merger, separating Warner’s marquee film and TV from Discovery’s reality and nonfiction f