By Dawn Chmielewski, Aditya Soni and Jaspreet Singh LOS ANGELES (Reuters) -Warner Bros Discovery said it would split into two publicly traded companies, separating its studios and streaming business from its fading cable television networks as the parent of HBO and CNN looks to compete better in the streaming era.

Warner Bros. Discovery plans to separate into two public companies by next year as it makes a clearer split between its streaming and cable businesses. Warner Bros.

Warner Bros. Discovery said it will separate its media businesses into two new companies, with cable in one and streaming and studios in the second.