Warner Bros. Discovery splitting into two separate media companies – separating CNN from HBO Max - The announced split, which will take place next year, is yet another major media upheaval amid the on

Warner Bros. Discovery said it will separate its media businesses into two new companies, with cable in one and streaming and studios in the second.

Warner Bros Discovery said it would split into two publicly traded companies, separating its studios and streaming business from its fading cable television networks as the parent of HBO and CNN looks to compete better in the streaming era.