Warner Bros. Discovery is dividing its assets into two separate publicly traded companies, the media conglomerate announced Monday.

Warner Bros. Discovery plans to separate into two public companies by next year as it makes a clearer split between its streaming and cable businesses. Warner Bros.

Warner Bros Discovery said it would split into two publicly traded companies, separating its studios and streaming business from its fading cable television networks as the parent of HBO and CNN looks to compete better in the streaming era.