Warner Bros. Discovery has announced plans to split itself into two companies, separating its streaming and studios divisions from its linear television businesses. The split is expected to be completed by mid-2026 and is supposed to help “maximize the potential” of its portfolio of brands, according to the company.

Warner Bros Discovery said it would split into two publicly traded companies, separating its studios and streaming business from its fading cable television networks as the parent of HBO and CNN looks to compete better in the streaming era.