Warner Bros. Discovery will split into two companies by next year, with much of its streaming and movie production moving under one company and its live sports and news to another, according to the Washington Post .

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.

The owner of CNN and HBO Max, Warner Bros Discovery, says it will split into two companies by the middle of next year. The US media giant plans to separate its studio and streaming business away from its more traditional cable television networks.