Warner Bros. Discovery plans to separate its cable TV business from its streaming service, creating two independent companies. This is happening because more people are canceling traditional cable TV subscriptions. The streaming and studios company will include HBO, HBO Max, Warner Bros. Television, Warner Bros. Motion Picture Group, and DC Studios. The cable company, called Global Networks, 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. Warner Bros. Discovery CEO David Zaslav will lead the Streaming & Studios company, and CFO Gunnar Wiedenfels will become the CEO of Global Networks. This 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 more pressure from streaming services and other internet options.