This structure could help WBD better navigate the industry's transition period, potentially unlocking higher valuations by allowing investors to value each segment separately based on their distinct growth profiles and financial characteristics. Under this new corporate structure, Warner Bros. Discovery will serve as the parent company for two distinct operating divisions: Warner Bros. Discovery expects the new corporate structure to enhance clarity and focus, with each division positioned to deliver on its specific strategic and operational objectives while executing on initiatives to further key priorities for consolidated Warner Bros. Discovery. Global Linear Networks will focus on maximizing profitability and free cash flow to continue deleveraging, while Streaming & Studios will focus on driving growth and strong returns on increasing invested capital.