WBD up 11% premarket after two-way split - Breaking The News

WBD up 11% premarket after two-way split

9 June

1 min read

EPA-EFE/ETIENNE LAURENT

Warner Bros. Discovery shares soared over 11% on Monday's premarket trading after the firm announced it was splitting itself into two stand-alone publicly traded entertainment companies, separating its HBO Max streaming service, movie studio and TV production business from its cable networks by mid-2026.

One of the companies, Streaming & Studios, will focus on streaming and studios like HBO, Warner Bros. Pictures, and DC, led by CEO David Zaslav. The other, Global Networks, will house CNN, Discovery, TNT Sports, and Discovery+, run by Gunnar Wiedenfels.

Warner Bros. Discovery's shares gained 11.71% to sell for $10.97 at 7:48 am ET. Trading was halted in the premarket following the announcement.

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