Faber said that is “almost definitely” will see the Warner Bros. studios paired with Max, leaving WBD’s cable networks as the odd assets out. It’s basically exactly what NBCUniversal is doing to Faber. A spokesperson for Warner Bros. Discovery did not immediately respond to The Hollywood Reporter ’s request for comment on the Faber report.

The Warner Bros. studio struggled in the quarter, but the company's streaming unit grew by 5.3 million subscribers.

WBD chief executive David Zaslav said an internal reorganization into two operating divisions, Global Linear Networks and Studios & Streaming, means "we can move quickly if we decide to change and make a determination on restructuring.