HBO Max will soon be splitting from CNN after parent company Warner Bros. Discovery announced it will be breaking up into two separate publicly traded companies, one focused around streaming and the other on traditional television broadcasting.

Warner Bros. Discovery announced that it would split into two companies.

Moody’s Ratings has downgraded debt issued by units of Warner Bros. Discovery Inc., adding another complication to the media giant’s discussions with bondholders after it announced plans to split in t...