The tax-free transactions also calls for WBD to launch a tender offer — which it announced in tandem with the split — for a big chunk of debt using a $17.5 billion bridge loan from J.P. Morgan.

EXCLUSIVE: Misha Green will reteam with her Underground and Lovecraft Country star Jurnee Smollett for the Lionsgate thriller Sunflower.Green will direct off a script she wrote and produce with ...