Warner Bros. Discovery said it would, going forward, “serve as the parent company for two distinct operating divisions,” one that holds linear TV networks, and another centered around production studios and streaming platforms,

Warner Bros Discovery on Thursday decided to separate its declining cable TV businesses such as CNN from streaming and studio operations such as Max, laying the groundwork for a potential sale or spinoff of its TV business as more cable subscribers cut the cord.

Warner Bros. Discovery, CNN’s corporate parent, announced Thursday it is establishing a new corporate structure that splits its cable networks off from its growing streaming business.