Warner Bros. Discovery to split into two companies
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.
The deal, announced Monday, comes just three years after Warner Bros. and Discovery merged in a bid to capture more of the highly competitive streaming market and hunt for 130 million paying subscribers on its Max service. As of March, the company had nearly reached that goal, having reached more than 122 million subscribers, according to its most recent quarterly report.
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