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.

Remember the plan for HBO Max and Discovery to mix their content together into an all-new streaming called “Max”? Well, forget all that. Not even a month after declaring that Max would soon be HBO Max again,

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.