Key Takeaways Warner Bros. Discovery on Monday announced plans to split into two separate companies, sending its shares higher in morning trading.One company will be made up of the company's studios and HBO Max streaming service,

Warner Bros Discovery announces a strategic split into two public companies, separating its streaming and studios from declining cable television networks, aiming to enhance competitiveness in the media landscape.

The entertainment company is contending with a hefty debt load and a sagging stock price.