Warner Bros. Discovery, the parent company to Atlanta-based cable channels such as CNN, TBS and TNT, plans to split into two publicly traded companies, largely parting its television networks from its streaming business.

Warner Bros. Discovery will calve off cable operations from its streaming service, creating two independent companies as the number of people “cutting the cord” brings with it a sustained upheaval in ...

Liberated as a focused company, Warner’s streaming and studio business promises to fetch a higher stock-market valuation as it attracts investors otherwise deterred by the current company’s ties to o...