Will the PTO’s Content Model Change with WBD Split?

Photo: Kevin Mackinnon

The Professional Triathlete’s Organisation (PTO) has, by all accounts, got a lot going for it in 2025. It is the second year of the T100 Triathlon World Tour, with excellent racing during those events. They also have a wide footprint of both traditional and streaming media for those races, delivered across a series of channels as well as their own PTO+ hub. It’s arguably the sunniest outlook they’ve had in their existence.

But arguably the largest corporate news relating to triathlon since it was announced that IRONMAN would be acquired by Advance Publications may have wide-ranging implications for the PTO.

Warner Bros. Discovery, the PTO’s premier broadcasting partner across both linear and streaming services, has announced that it will be splitting itself into two separate publicly traded companies in 2026, separating its streaming and studio business into one business, and their network media companies into another business.

Current Chief Executive Officer of Warner Bros. Discovery David Zaslav, who will lead the streaming and movie business after the split, said, “By operating as two distinct and optimized companies in the future, we are empowering these iconic brands with the sharper focus and strategic flexibility they need to compete most effectively in today’s evolving media landscape.”

The streaming and studio business will include the recently renamed HBO Max, as well as Discovery+ — where most PTO content can be found. Zaslav noted in a call about the transaction that sports had not been “a real driver” for the streaming side of the business, despite traditionally drawing the largest live audiences for traditional broadcasting.

The network media business includes channels like CNN, Discovery, TBS and TNT Sports.

As of now, according to a PTO spokesperson, “we don’t anticipate any impact from the change at this time.” Still, in the future, it would mean that the PTO may be dealing with two separate entities for their broadcasts in 2026 — or may look to find new partners at that point in time.

Given that, according to the PTO, broadcasts reached seven to eight figure audiences in 2024, one thing is certain: people will be watching, and trying to figure out where they are.

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