You might have seen the headlines: Warner Bros. Discovery (WBD) is planning to split into two separate companies by mid-2026. While that sounds like a massive shake-up, the good news for UK viewers is that it won’t cause any major disruption, at least not for now. But with HBO Max still set to launch here in 2026, it’s worth unpacking what’s happening and why there’s no need to panic. So, what’s actually going on, and why should UK audiences care?
What Is WBD Doing?
According to the official press release, WBD plans to separate into two publicly traded companies in a tax-free transaction by mid-2026. The two arms will be:
- Streaming & Studios: This will include Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO, HBO Max, Warner Bros. Games, and the company’s extensive film and TV libraries. It will also oversee Warner Bros. studio operations in Burbank and Leavesden.
- Global Networks: This includes CNN, Discovery Channel, TNT Sports (in the USA), TLC, top free-to-air channels across Europe, Discovery+, Bleacher Report, and other global entertainment, sports, and news television brands.
David Zaslav (WBD’s current CEO) will lead the Streaming & Studios company, while Gunnar Wiedenfels (WBD’s current CFO) will take charge of Global Networks. Both will remain in their current roles until the split is finalised.
The aim is to give each division the flexibility and focus to grow on its own terms, attract tailored investors, and invest more directly in its specific strengths. Streaming & Studios will focus on scaling HBO Max and investing in high-end programming, while Global Networks will double down on live content, digital extensions, and international growth opportunities.
Why Are They Doing It?
In short: money, massive debt, and shifting viewing habits. Cable TV is on the decline, streaming is where the growth is, and WBD needs to manage its eye-watering $34 billion debt. Splitting the business helps sharpen their focus and makes each side easier to run… and more appealing to investors. Other media giants like Disney and Comcast are also looking at similar moves.
What Does This Mean For The UK?
HBO Max, Sky, and What Happens Next
The biggest thing for UK audiences is that HBO Max (switching back from the brief, ill-fated “Max” rebrand) is still on track to launch here in early(ish) 2026, right after Sky’s long-standing deal with HBO wraps up at the end of 2025.
In late 2024, Sky and WBD signed a fresh agreement to keep HBO and Warner Bros. content flowing on Sky and NOW until that point. As part of the deal, the HBO Max app will be bundled into Sky and NOW subscriptions from early 2026, at no extra cost.
BUT, it is worth noting, many of the big-name HBO shows like The Last of Us, House of the Dragon, and The White Lotus are staying put directly on Sky. Thanks to this new deal, they’ll continue to air on Sky Atlantic and be available On Demand, even after HBO Max launches in the UK. Some content may become shared or staggered between platforms, but Sky isn’t losing its grip on existing major HBO titles just yet.
WBD also used this agreement to settle a legal dispute with Sky over co-production rights (like the upcoming Harry Potter series), smoothing the path for a more coordinated rollout. So, expect a fairly smooth transition from Sky’s existing HBO setup to the Max platform, which will join Sky’s growing bundle of streaming apps alongside Netflix, Disney+, and Paramount+.
What About WBD’s UK Channels?
WBD also owns or co-owns a bunch of UK TV channels, such as:
- Quest, Really, HGTV, Discovery Channel, TLC (lifestyle/factual)
- Cartoon Network, Boomerang, Cartoonito (kids)
- TNT Sports (in partnership with BT)
These will stay with the new “Global Networks” company. While the press release specifically mentions TNT Sports in the U.S., it doesn’t namecheck the UK version. However, given it’s part of the same WBD/BT joint venture and sits alongside other UK channels, it’s likely staying under the Global Networks banner too.
Interestingly, back in mid-May, reports emerged suggesting that BT was considering selling its 50% stake in TNT Sports UK to WBD. According to those reports, WBD holds an option to take full control of the channel, which runs until next September. If that happens, it would give WBD even greater flexibility over how TNT Sports fits into its post-split strategy.
No major changes expected just yet, but we might see:
- New content strategies or tweaks to the programming
- More crossover between Discovery+, HBO Max, and the channels
- Potential rebrands or new bundle deals
Should You Be Worried?
Nope. Not at all. Your channels aren’t vanishing, and your shows aren’t going anywhere overnight. But behind the scenes, this split is laying the groundwork for a more streamlined (and hopefully better) media experience. Think: easier access to big shows, better bundles, and fewer content gaps.
TL;DR
WBD is splitting into two to focus more clearly on streaming vs. traditional TV. For UK viewers, here’s what to know:
- HBO Max is still launching in 2026
- Sky and NOW customers will get ad-supported HBO Max for free
- Current big HBO shows like The Last of Us and House of the Dragon stay on Sky
- Discovery+, TNT Sports, and WBD-owned UK channels carry on as usual
- Expect smoother streaming bundles and less brand confusion
As always, if you want to keep track of all the latest UK TV news, air dates, and upcoming streaming launches, check out our Never Miss system!
