Warner Bros. Discovery said Thursday that it is restructuring into two operating divisions — with one focusing on its struggling legacy cable TV business and the other on streaming and studios — in a rejigger that could set it up for “strategic opportunities” down the road. The media giant — in what insiders called a sign of optimism that regulations around mergers and acquisitions will be friendlier under the Trump administration — will merge the unit that includes streaming services Max and Discovery+ and ...