The film and television giant will turn its cable networks, including CNN and TNT, into one company and its streaming and studios business into another.

Warner Bros. Discovery said it will separate its media businesses into two new companies, with cable in one and streaming and studios in the second.

Warner Bros. Discovery, the parent company to Atlanta-based cable channels such as CNN, TBS and TNT, plans to split into two publicly traded companies, largely parting its television networks from its streaming business.