LOS ANGELES - Warner Bros. Discovery is dividing its assets into two separate publicly traded companies, the media conglomerate announced Monday.

The move will put the company’s iconic movie studio, prestige TV operation, HBO and HBO Max and DC Studios into a single entity known as Streaming & Studios. Cable channels CNN, TNT, Discovery and over-the-air networks internationally will operate under the banner of Global Networks.

The split is aimed at attracting investors in the company’s growing streaming business without exposure to the mature traditional TV business, which is in decline. The transaction is expected to be done by mid 2026.

“By operating as two distinct and optimized companies in the future, we are empowering these iconic brands with the sharper focus and strategic flexib

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