Warner Bros. Discovery on Monday announced a plan to separate into two independent public companies. The move creates a streaming giant and a separate company for its global networks.

The entertainment company will separate its streaming and studios business from its cable channels, including CNN and TNT.

The company will split into two separate public companies by the middle of next year. One company, Streaming & Studios, will include the Warner Bros. movie and TV studios along with the recently rebranded HBO Max streaming service, while Global Networks will be made up of WBD's cable channels like TNT, CNN, and the Discovery+ streaming service.