Zaslav and Gunnar Weidenfels detail the blockbuster unbundling of WBD: Decision "reflects our belief that each company will go further and faster apart than they can together."

Warner Bros. Discovery announced Monday it will separate into two publicly traded companies by sometime next year.

Warner Bros. Discovery (WBD) is officially splitting into two separate companies. The David Zaslav-led conglom had signaled the move with an internal reorganization that grouped its businesses into Streaming & Studios and Global Networks.