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Warner Bros. Discovery’s announced separation follows the industry’s latest M&A trend. In this case, separation is easy.

Warner Bros. Discovery, the media conglomerate that owns HBOMax, TNT Sports, and CNN, will be splitting into two companies.

Four years ago, David Zaslav clinched a debt-heavy deal to merge cable mainstay Discovery Inc. — which he’d run since 2006 — ...

Warner Bros. Discovery is restructuring, creating separate entities for its streaming and cable operations to better align with media consumption trends and to strengthen each division's focus.