The entertainment company is contending with a hefty debt load and a sagging stock price.

Warner Bros. Discovery said it will separate its media businesses into two new companies, with cable in one and streaming and studios in the second.

The company announced Monday its plan to split into two publicly traded entities: The Streaming & Studios division, which will include Warner Bros. Television, Motion Picture Group, DC Studios, HBO, and HBO Max; and Global Networks, featuring CNN, TNT Sports in the U.S., Discovery, and Bleacher Report.