Headlines, body text, image captions and similar, are all separate elements of an article.
Moreover, parts of a headline (e.g. strap or kicker, subhead) may be separate elements too.
For example, kicker/strap, headline, subhead etc. This simplifies formatting, as everything can be done through format defaults (See Format Defaults).
In any case, different users can edit articles elements simultaneously. While a user writes a body text, another user can write a headline.
Since elements are all in an article container, you can locate them, open, save them, send the copy flow as one entity - an article, or as separate entities - stories.