Warner Bros. Discovery is splitting into two separate publicly traded companies – one oriented around the HBO Max streaming service and Warner Bros. studio, and the other around CNN and other television networks.

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 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