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Warner Bros Discovery splits its business into two public companies, one focusing on streaming and studio businesses, and the other focusing on television network businesses, including CNN and Discovery.
The US media giant said the move would not only unlock shareholder value, but also create opportunities for both business, splitting the group created from the merger of WarnerMedia and Discovery just three years ago.
Last year, Warner Bros Discovery revealed its intention to split the business into two, a plan originally reported by the Financial Times in July last year. The company is expected to complete the split by mid-next year.
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