Warner Bros. Discovery is splitting into two separate publicly traded companies – one oriented around the HBO Max streaming service and Warner Bros. studio, and the other around CNN and other television networks.

Warner Bros. Discovery said it will separate its media businesses into two new companies, with cable in one and streaming and studios in the second.

HBO Max will soon be splitting from CNN after parent company Warner Bros. Discovery announced it will be breaking up into two separate publicly traded companies, one focused around streaming and the other on traditional television broadcasting.