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 is to split into two, separating streaming and studios from its cable channels. The company has been burdened by debt and the decline of cable TV.

Warner Bros. Discovery shareholders just rejected CEO David Zaslav's pay package. Wall Street thinks a split-up of the company may be next.