For months, analysts and insiders have been guessing when Warner Bros Discovery would pull the trigger on its separation. Now there is a month to circle. CEO David Zaslav told investors the company expects to complete the split in April 2026. It is the first time executives have put a specific date range on the timeline.
Speaking at a Goldman Sachs media conference, Zaslav said, “We expect sometime in April that the companies will be split. Everything’s on track.” He also noted there are no regulatory approvals required. The separation will divide the high-growth studio and streaming assets from the global networks business.
What the two companies look like after the split
Under the plan announced in June, a renamed Warner Bros will include Warner Bros Television, Warner Bros Motion Picture Group, DC Studios, HBO and HBO Max, along with the combined film and television libraries. Global Media Networks will house CNN, TNT Sports in the U.S., Discovery’s entertainment networks, free to air channels across Europe, and digital brands including Discovery+ and Bleacher Report.
Zaslav will serve as president and CEO of the studio and streaming company. Current WBD CFO Gunnar Wiedenfels will lead the networks business.
The rationale Zaslav is selling to investors
The strategy is straightforward. As Zaslav put it, “Linear entertainment aside from sports and news is really challenged.” By separating the businesses, Warner Bros can focus on production, franchises, and the HBO Max footprint, while the networks company concentrates on CNN, sports, and the future of lifestyle brands like Food Network.
On the streaming side, Zaslav signaled pricing is a higher priority than a near term password sharing crackdown. “We haven’t been pushing on the password sharing and the economics, yet,” he said. “People are really starting to love HBO Max. That’s the key. We want them to fall in love with our content… and then over time… we’re going to begin to push on that.” He added, “I think our ability to raise price as people become more and more in love with the quality that we have and the series that we have and the offering that we have is a shorter term scenario.”
Why April 2026 matters
The April target gives Warner Bros Discovery roughly 18 months to ready financials, operational handoffs, and leadership teams for two separate public companies. It also sets expectations for Wall Street and partners on when to judge early results, from streaming ARPU to network cash generation. The company has framed the split as a way to sharpen strategy on both sides and unlock value that has been tied together since the Discovery and WarnerMedia merger.
What to watch between now and the separation
Investors will be tracking HBO Max’s international expansion, pricing moves, and content cadence across HBO and DC Studios. On the networks side, the focus is CNN’s global positioning, the path for TNT Sports, and how the group manages free to air and lifestyle channels in a changing ad market. Zaslav summed up the thesis by pointing to focus and flexibility, telling investors the structure should allow each business to invest, partner, or acquire in ways that fit its own market reality.
Bottom line
Warner Bros Discovery finally put a month on the calendar. If the plan holds, April 2026 is when the company stops debating the benefits of separation and starts proving them. Until then, expect a steady drumbeat of updates on HBO Max pricing, international rollouts, and how the networks portfolio prepares to stand on its own.
IMAGE SOURCE: Shutterstock – Warner Bros Water Tower – Oscity
