July 28 (Reuters) -

Warner Bros Discovery ( WBD ) said the two companies created

by the separation of its studio, streaming and cable TV units

would be named Warner Bros and Discovery Global, unwinding a

merger in less than four years due to seismic shifts in the

entertainment industry.

Warner Bros will house the crown jewels of WBD's

entertainment library, including Warner Bros and DC Studios as

well as the HBO Max streaming service, the company said in a

statement.

The global networks division will include its cable

networks, CNN and TNT Sports as well as the Discovery+ streaming

service, which will be called Discovery Global.

The

split

, which would create two publicly traded companies, was

announced in June and is expected to be completed by mid-2026.It

demerges WarnerMedia and Discovery, with an aim to grow the

streaming and studios business without the drag of the declining

networks unit.

Like other entertainment companies, WBD is struggling

with declining ratings and revenue at its cable networks.

Consumers have been dropping pay-television subscriptions in

favor of streaming services.

The breakup is the latest unraveling of decades of media

consolidation that created global conglomerates spanning content

creation, distribution and in some cases, telecommunications.

Comcast ( CMCSA ) is spinning off most of its

NBCUniversal cable networks portfolio into a separate company,

Versant. Lionsgate Entertainment completed the

separation of its Starz cable network from its film and

television studio in May.