Warner Bros. Discovery is no more. They are breaking up. Ryan Faughnder, Senior Editor of The Times’ Hollywood Inc. team breaks down what happened, why and how Paramount, fresh off their merger being approved, can learn from Warner Bros’ Discovery’s mistakes.

Warner Bros. Discovery unveiled some key details of its upcoming separation with leadership and the names of the two new companies.

Warner Bros Discovery 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.