AEW Broadcaster WBD Splitting Into Two Companies

Warner Bros. Discovery announced today that it will be splitting up into two companies, both of which will be publicly-traded. One of the companies will be known as Streaming & Studios while the other is classified as Global Networks. Streaming & Studios will include Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO and HBO Max. Meanwhile, Global Networks will absorb WBD's "premier entertainment, sports, and news television brands," which is set to include CNN, TNT Sports, Discovery, and Bleacher Report.

AEW's latest media rights deal with WBD went into effect at the beginning of this year, with its two flagship shows simultaneously airing on traditional TV and streaming on Max. In addition to new episodes of its shows, the AEW backlog is slowly being added to the streaming service, and there are plans to implement PPV purchases in the near future.

The AEW-WBD deal extends through at least 2028, which means this split is unlikely to have any direct effect on the wrestling promotion in the immediate future. However, the fact that TNT Sports is now with one company while HBO Max and some television assets are with the other brand could make future negotiations slightly more convoluted.

As for the new corporate leadership structure, WBD CEO David Zaslav will serve that same role in Streaming and Studios, while the company's current Chief Financial Officer will become the CEO of Global Networks. Until the deal closes, they'll remain in their current roles. According to Zaslav, the purpose of splitting the companies is to allow each to better strategize for its own needs.