Warner Bros. Discovery, the parent company of HBO Max, CNN and TNT, announced Monday it would split into two companies by the middle of next year, the latest move by a major media conglomerate to reck

Warner Bros. Discovery revealed plans to divide into two publicly traded entities by 2026. The move aims to enhance the competitiveness of the iconic brands. Following the separation, CEO David Zaslav will lead the Warner Bros.

Warner Bros. Discovery will calve off cable operations from its streaming service, creating two independent companies as the number of people “cutting the cord” brings with it a sustained upheaval in the entertainment industry.