Zaslav and Gunnar Weidenfels detail the blockbuster unbundling of WBD: Decision "reflects our belief that each company will go further and faster apart than they can together."

Warner Bros. Discovery Inc. said it will separate the company into two publicly traded businesses, splitting its streaming and studios business and its TV networks operations by the middle of next year.

Warner Bros. Discovery said it would split into two publicly traded companies, one focused on streaming and the other on traditional TV