Warner Bros. Discovery will split into two companies by next year, with much of its streaming and movie production moving under one company and its live sports and news to another, according to the Washington Post .

Warner Bros. Discovery, Inc. plans to split streaming and network units to boost cash flow, reduce debt, and enhance shareholder value. Click for our WBD update.

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.