Warner Bros. Discovery to demerge into two companies.

Warner Bros. Discovery, an American multinational mass media and entertainment conglomerate, is set to demerge into two companies, separating its studios and streaming business from its cable TV businiess. The company is separating its studios and streaming business from its fading cable television networks. WBD S&S is to be led by David Zaslav, while WBD GN is to be led by Gunnar Wiedenfels.