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.

The first of these two companies is tentatively dubbed "Streaming & Studios," though it will almost certainly maintain the Warner Bros. name. This company will comprise Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO and the streaming service HBO Max, along with these brands' existing film and television libraries.

HBO Max will expand to 12 New territories in July; WBD execs outlined the local programming strategy at NEM Dubrovnik.

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 has announced that HBO Max will continue its global rollout, with new markets including Iceland and Estonia.