Turner Classic Movies has carved out a special custody arrangement in the forthcoming Warner Bros. Discovery split, Variety has learned exclusively.
The classic film channel — beloved by Hollywood heavyweights and cinephiles around the world — has set a co-management structure ahead of WBD’s planned separation. Creative functions like programming and strategy will remain with CEO David Zaslav’s Studios and Streaming Group, while distribution and business operations will be handled by Gunnar Wiedenfels’ Global Networks spinoff company.
Fellow brands like CNN, TNT Sports and Discovery will fully cross over with Wiedenfels. TCM will be the only channel with this agreement. In 2023, Zaslav gave creative oversight of the channel to Warner Bros. Pictures heads Michael De Luca and Pamela Abdy, who will remain in charge. Keeping the station in the world of film creatives was a priority for Zaslav, two sources added.
“David Zaslav’s deep appreciation for TCM is long-standing, enduring, and well-known. In connection with WBD’s separation, a dedicated commercial arrangement will be established for TCM reflecting its distinct role in celebrating classic film and its cherished place in the entertainment industry,” said a WBD spokesperson, who confirmed the leadership structure of De Luca, Abdy and Zaslav to ensure “the brand stays true to its roots and rich legacy.”
The decision is a no-brainer when it comes to talent relations. The ad-free TCM has A-list supporters like Steven Spielberg, Martin Scorsese and Paul Thomas Anderson (a trio who have consulted with the network on specials and advocated for its survival in chaotic media landscape). Launched 31 years ago in 1994, the network would expand to live events like an annual film festival and helped mark the Warner Bros. Pictures centennial two years ago.
WBD announced its plans to split in early June. The separation is expected to be completed by mid-2026, subject to closing and other conditions, and the bulk of conglomerate’s roughly $38 billion in debt will be carried by the Global Networks entity.
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