Legacy media is undergoing a transformation, with financial executives taking the lead over traditional Hollywood content experts. The shift is evident in Warner Bros. Discovery’s decision to split into two companies, with CFO Gunnar Wiedenfels set to head the global networks business. This trend is driven by the need to adapt to the changing media landscape.

Netflix’s strategic move to appoint Greg Peters as co-CEO alongside Ted Sarandos showcases the company’s disruptive approach to leadership. Peters’ focus on business growth and international expansion complements Sarandos’ expertise in content. The decision reflects Netflix’s shift towards a more balanced leadership structure to drive continued success.

In a similar vein, Comcast’s promotion of Mike Cavanagh to president of NBCUniversal highlights the industry’s pivot towards financial expertise in top leadership positions. Cavanagh’s strategic decisions, such as spinning off cable TV networks, underscore the importance of financial acumen in navigating the evolving media landscape. This shift signals a new era in media leadership dynamics.

Read more at CNBC: Media shifts brings a new crop of leaders into play