Just three years after the iconic Warner Bros. film studio and television business was acquired for $43 billion by Discovery, the two companies are being split in two again. On one side will reside Warner Bros.

He points out that the AT&T deal that formed Warner Bros. Discovery in the first place helped set the template Zaslav and Wiedenfels are following into the future with Streaming & Studios and Global Networks.

The film and television giant will turn its cable networks, including CNN and TNT, into one company and its streaming and studios business into another.