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

NEW YORK (AP) — Warner Bros. Discovery will split into two public companies by next year, calving off cable operations from its streaming service as the number of people “cutting the cord” brings with it a sustained upheaval in the entertainment industry.

The move effectively undoes much of Warner Media and Discovery Communications’ 2022 merger, separating Warner’s marquee film and TV from Discovery’s reality and nonfiction f