WarnerBros. Discovery announces major corporate restructure

(The Hill) -- Media conglomerate WarnerBros. Discovery (WBD) announced a major restructuring of its business on Thursday, splitting its linear and streaming arms into two separate companies as it eyes potential mergers and acquisitions in the coming year.

Under the new corporate structure, WBD will serve as the parent company for two distinct operating divisions: Global Linear Networks and Streaming and Studios.

The company said it expects the new corporate structure will "enhance clarity and focus...