Warner Bros. Discovery plans to divide its business into two separate companies: one for streaming and studios, and another for cable. The streaming and studios company, led by CEO David Zaslav, will include HBO, HBO Max, Warner Bros. Television, Warner Bros. Motion Picture Group, and DC Studios. The cable company, called Global Networks and headed by CFO Gunnar Wiedenfels, will have CNN, TNT Sports in the U.S., Discovery, major free-to-air channels in Europe, and digital products like Discovery+ and Bleacher Report. This split is happening because more people are canceling cable subscriptions and choosing streaming services. The company expects to complete this separation by the middle of next year, once the board gives its final approval. This change is a response to the growing competition from streaming services and other internet options.