Warner Bros. Discovery plans to separate its cable and streaming businesses into two distinct companies. The Streaming & Studios company will include HBO, Warner Bros. Television, Warner Bros. Motion Picture Group, and DC Studios, led by CEO David Zaslav. The Global Networks company, which focuses on cable, will be headed by CFO Gunnar Wiedenfels and will include CNN, TNT Sports in the U.S., Discovery, major free-to-air channels in Europe, and digital products like Discovery+ and Bleacher Report. This separation is expected to be finished by the middle of next year, once the board gives its final approval. This change is happening because more people are canceling cable subscriptions and choosing streaming services or other internet options.