Monday news that Warner Bros Discovery is divided into two companies – one consisting of studios and broadcasts, other linear TV networks – installed the latest drama in Hollywood.

David Zassallav, after WBD as an executive head since the conclusion of 2022 of the $ 43 billion discovery incorporation (who was previously run) and Warnermedia, is scheduled to be the CEO of the “S&S” (S & Sodos & Streamers). Gunnar Wiedenfels, Financial Director of Warner Bros Discovery, who occupied the same post in Discovery and has a pure financing background, as the CEO of Global Networks.

The separation is expected to be officially closed in the second half of 2026, already a set of questions about the long -awaited maneuver. Among them: Who will sit in the corner office when he is said and do everything?

For every new company, integration and purchase can provide this answer. During a call with Wall Street analysts about the deal, Zassallav said that the division “reflects our belief that every company can now disintegrate and faster as possible together.” Wiedenfels said that the two companies will be “free and clear” to make deals once the division is completed-with no waiting period, unlike a temporary time for two years after the discovery was collected.

While Wiedenfels is respected in financial circles, the new party that oversees the network company “seems to indicate a focus on financial efficiency and perhaps strategic treatment at some point”, TD Cowen analyst wrote in a note for customers. Michael Morris also highlighted Guggenheim, the appointment, Wiedenfels “Top Gunnar”.

Before the discovery, run -on -born Wiedenfels in Prosiebensat and worked in Hamburg for MCKINSEY & CO. While he never became the wicked in the pop culture of Zasslav, especially among the masses of gender, he was able to excite the creative society in 2022 Batgirl The film in order to achieve tax benefit. “The media loves to talk about the media,” I think, “ignore at that time.

The manufacture of the CEO to the CEO is a different approach from the approach taken by the Komcast in the collection of the management team for Versant, NBCUNIVERSAL CABLE Network Holding is about to get out of COMCAST. Mark Lazaros, the potential CEO, brings a huge operational experience and a great programming for this role, after heading sports and entertainment via linear networks and broadcasting. Sometimes, the financial manager ascends to the higher job of media companies (Chris Winfrey in Carter Communications is one of the current examples), but it is a strict way in Hollywood organizations.

S&S is more than the plot home, and it is not surprising that it has prestige assets like HBO, HBO Max and Warner Bros under its roof. While Zaslav has long reassured the Mogul status, which led to the numbering of this ambition by moving to Home Boss Right Robert Robert Evans in Los Angeles, he also made a number of incomplete errors. Along with permission to kill films like completion Wolf opposite ACME (Who was recently sold after protest), approached the classic Torbid Turner films. Stephen Spielberg, Martin Scorsese and a coalition of other film makers on the A list, were convinced him. This was Bash Ho and Graidon Carter threw at the Cannes Festival during the Hollywood 2023 book strike, with heavy security.

One of the senior executives who worked in Zaslav in Discovery and Warnermedia told the deadline that the division plan had a certain quality. “This seems to be the beginning of his retirement, at least from this company,” “Does he want to run something much smaller than before?” In 65 years, Zasslav seems to have another act in it, but some of the informed indicate his remembrance of the long -term lieutenant David Levy from CNN to a large position in the mother ship was introduction.

If Zaslav has ever moved (big if anyone wins it in the American Professional League or the French open broadcast during the past month, as Zasslav’s embrace of celebrities was full), who would be the candidates to be the first rank? Two names in the short menu will be Casey BLOYS and Channing Dungey.

Both were prominent roles in the company’s offer to advertisers last month in New York. BLOYS has also received unusual praise from Zaslav on the latest quarterly profit call in WBD. Exec Top the HBO and Max Content Chief described “The Talent of Generations”, and said that the current state of HBO is not only healthy, but is equal to NBC programming during the legendary “Must-See-TV” era.

Meanwhile, Dungey sought to anticipate any speculation that it could leave the fold by sending an internal note confirming the opposite. “I am pleased because I will continue to obtain the honor of the WBTVG leadership.”

For Wall Street, there is some larger clouds on the horizon of a fog -covered ORG.

“The broader question is: Why now?” Robert Fishman, Movitanathson analyst, asked a note for customers. “Although we were not shocked because the company chose to separate, the timing of this step is more surprising. This advertisement raises questions about external pressures. We note that the step closely follows in the aftermath of the late S&P from the WBD debt to the story that we must extend to some extent, as we must extend to some extent to the story that must extend to some extent, where we must benefit from change Water.

The investors grew cold in the deal, where the trading day arrived on Monday to the end. After it initially rose more than 9 %, the WBD shares already decreased by another 2 % to close at 9.77 dollars.