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Who Is Gunnar Wiedenfels? WBD’s Cost-Cutting Finance Exec Picked as CEO of New TV Networks Spin-Off Comprising CNN, TBS, TNT, Discovery+ and More
As CFO of Warner Bros. Discovery, Gunnar Wiedenfels has led cost-cutting at the company. Now he's been picked as CEO of its cable TV spin-off.
Indeed, the compensation committee of WBD’s board of directors praised Wiedenfels’ cost-reduction prowess in explaining why the CFO deserved a $4.8 million cash bonus for 2024. Wiedenfels, in a statement Monday, said the new yet-to-be-named TV spin-off will now have the latitude to “pursue important investment opportunities” and potentially “drive shareholder value.” After the split, expected to occur by mid-2026, both legacy WBD and the new company will be “free and clear” for M&A, he said. In addition, WBD Global Networks will hold up to a 20% retained stake in the media company’s streaming and studios business “that it will plan to monetize in a tax-efficient manner to enhance the de-leveraging of its balance sheet,” according to the Warner Bros.
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