Warner Bros. Discovery, grappling with declines in its overall business, said Monday it planned to divide the company into two publicly-traded entities, one devoted to streaming and content production and one devoted to traditional television.

Warner Bros Discovery said on Monday it would split into two 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.

Warner Bros. Discovery will split into a Streaming & Studios business with HBO and DC Studios, while Global Networks will include CNN and Discovery.