Warner Bros. Discovery announced Monday morning that it was splitting into two separate public companies by the middle of next year, in yet another major upheaval of a media conglomerate as the industry looks to transition from cable subscriptions to streaming.
One company will focus on the HBO Max streaming product and WBD’s film studios, while the other will be a global networks brand that will largely include cable channels such as CNN, TNT and Discovery, as well as some streaming options.
