Warner Bros. Discovery plans to divide its cable TV business from its streaming service, creating two separate companies. This decision is due to more people canceling their cable 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 will have CNN, TNT Sports in the U.S., Discovery, popular free TV channels in Europe, and online products like Discovery+ and Bleacher Report. Warner Bros. Discovery CEO David Zaslav will lead the Streaming & Studios company, while CFO Gunnar Wiedenfels will become the CEO of the cable company, Global Networks. This separation is expected to be completed by the middle of next year, if the board gives its final approval. This strategic change is happening because the cable TV industry is facing more challenges from streaming services and other internet options.