, led by CEO David Zaslav, has become the latest Hollywood studio to rework its corporate structure with an eye toward a possible spin off of its legacy TV assets.
In a sign of just how embattled the pay TV business is, the move by WBD follows rival Comcast unveilingless lucrative cable networks away from its film and TV studio entertainment and parks businesses. Disney CEO Bob Iger has also talked publicly about his studio’s legacy TV networks, including ABC, “And Paramount Global’s incoming CEO Jeff Shell said his company’s plan would be to manage CBS “a bit more aggressively for cash flow,” given that linear TV is a “declining business.
“We continue to prioritize ensuring our global linear networks business is well positioned to continue to drive free cash flow, while our streaming and studios business focuses on driving growth by telling the world’s most compelling stories.
Under this new corporate structure, WBD will be the parent company for two distinct operating divisions. The global linear networks will hold the studio’s legacy TV assets, including brands like TNT, TBS and Discovery Channel, together offering content including sports, scripted and unscripted programming.