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.

The split results in two distinct entities: Streaming & Studios and Global Networks, similar to their predecessors. Content changes are coming or already here for streaming customers, as considerable Discovery+ content has already left the HBO Max stable.

Warner Bros. Discovery said it would split into two publicly traded companies, one focused on streaming and the other on traditional TV