Warner Bros. Discovery plans to separate its cable TV channels from its streaming services, creating two independent companies. This decision is a response to more people canceling traditional cable subscriptions. The Streaming & Studios company will include HBO, HBO Max, Warner Bros. Television, Warner Bros. Motion Picture Group, and DC Studios. The Global Networks company will manage CNN, TNT Sports in the U.S., Discovery, major free-to-air channels in Europe, and digital products like Discovery+ and Bleacher Report. Warner Bros. Discovery CEO David Zaslav will lead the Streaming & Studios company, and CFO Gunnar Wiedenfels will become the CEO of Global Networks. The separation is expected to be completed by the middle of next year, once the board gives its final approval. This change is happening because the cable industry is facing growing competition from streaming services and different internet options.