At the end of March, Warner Bros. Discovery had gross debt of $38.0 billion, which is comprised of “total debt” ($37.4 billion) and financial leases ($535 million). The 2022 merger of WarnerMedia (owned by AT&T) and Discovery, Inc. created more than $50 billion of debt.

The split comes three years after Warner Bros. and Discovery merged in a bid to capture more of the highly competitive streaming market.

The Warner Brothers legacy started off with a $1,000 projector when Sam Warner saw the potential of motion pictures while working as a projectionist in the early 1900s. Over the last 100+ years, their company has seen many ups and downs, several leadership changes, and has undergone multiple corporate transactions and renaming.

The media giant announced on Monday that it will divide into two entities: one focused on streaming and studios—housing its film assets and HBO Max—and another dedicated to global networks, including CNN, TNT Sports, and Discovery, among other brands. Warner Bros. Discovery shares gained 7.2% to $10.53 on Monday.

Warner Bros. Discovery Inc. shares are in focus on Wall Street today after the entertainment giant announced an upcoming company split by next year on Monday, 9 June 2025. Shares were up 6.8% in pre-market Nasdaq.

A majority of Warner Bros. Discovery Inc. shareholders voted against the 2024 compensation package given to Chief Executive Officer David Zaslav and other executives at the company’s annual meeting Monday,