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.

The film and television giant will turn its cable networks, including CNN and TNT, into one company and its streaming and studios business into another.

Just three years after the iconic Warner Bros. film studio and television business was acquired for $43 billion by Discovery, the two companies are being split in two again. On one side will reside Warner Bros.