Warner Bros. Discovery is splitting into two separate publicly traded companies – one oriented around the HBO Max streaming service and Warner Bros. studio, and the other around CNN and other television networks.

Warner Bros. Discovery, as it telegraphed six months ago, is breaking itself into two chunks. One company will be “WBD Streaming & Studios,” encompassing Warner Bros. Pictures, HBO, Max/HBO Max and more.

HBO Max will soon be splitting from CNN after parent company Warner Bros. Discovery announced it will be breaking up into two separate publicly traded companies, one focused around streaming and the other on traditional television broadcasting.