Warner Bros. Discovery plans to separate its cable TV channels from its streaming service, creating two distinct companies. This is happening because more people are canceling traditional cable TV subscriptions. The Streaming & Studios company will include popular brands like 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 such as Discovery+ and Bleacher Report. David Zaslav, the current CEO of Warner Bros. Discovery, will lead the Streaming & Studios company. Gunnar Wiedenfels, the CFO, will become the CEO of Global Networks. This separation is expected to be finished by the middle of next year, once the board gives its final approval. This change is a response to the growing competition cable TV faces from streaming services and new ways people access content online.