Warner Bros. Discovery will be split into two publicly traded companies.

The separation is expected to be completed next year, splitting the company into two: one focused on streaming and content production. The other will be focused on traditional television, Variety reported.

The traditional television company, called Global Networks, will focus on CNN, TNT, TBS and other cable channels, while the streaming will focus on HBO Max, movie studio and television production, called Streaming & Studios, The Associated Press and The Wall Street Journal reported.

The Wall Street Journal pointed out the separation would undo the merger that occurred in 2022.

The company recently rebranded its HBO Max streaming service, bringing back the name that had been dropped for Max.

Current CEO David Zaslav has been selected to lead the streaming portion, while current CFO Gunnar Widenfels will lead the television portion.

“By operating as two distinct and optimized companies in the future, we are empowering these iconic brands with the sharper focus and strategic flexibility they need to compete most effectively in today’s evolving media landscape,” Zaslav said in a statement, according to Variety.

Comcast is also splitting up Warner Bros. Discovery rival, NBCUniversal, into two. One will be called Versant, which will control cable networks, while broadcast and streaming will be under the NBC umbrella, Variety reported.

Lionsgate’s separation from Starz was confirmed last month, Deadline reported.

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