Wall Street analysts are bullish the move could pave the way for M&A and bring the industry a step closer to rationalization

The move will put the company’s iconic movie studio, prestige TV operation, HBO and HBO Max and DC Studios into a single entity known as Streaming & Studios.

Warner Bros. Discovery (NASDAQ:WBD) finally announced Monday it would formally split into two publicly traded companies by mid-2026: WBD Streaming & Studios and WBD Global Networks This seismic restructuring aims to untangle WBD’s diverse assets by separating its high-growth streaming and studio operations from its declining cable networks.