Warner Bros. Discovery has sold the MotorTrend Group of automotive brands to Hearst Magazines. Terms of the deal weren’t disclosed. MotorTrend Group's portfolio, which includes MotorTrend, Hot Rod, Roadkill and Automobile,

Investors cheered the news that Warner Bros. Discovery planned to separate its cable channels, except for HBO, into a separate unit.

David Zaslav may rejoin the media M&A fray. The Warner Bros Discovery boss is reorganizing his assets into two key divisions, further isolating the media company’s dying TV networks. It comes after rival Comcast announced a full split.

Warner Bros. Discovery Inc. is reorganizing into two divisions, one focused on streaming and studios and the other on cable TV networks, a move that positions the company for future dealmaking.

Warner Bros. Discovery said it is restructuring into two operating divisions, one focused on the legacy cable TV business and the other on streaming and studios, a move that could set the company up for dealmaking down the road.