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.

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.