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.

Warner Bros. Discovery's management has built a solid structure post-acquisition. Now the growth strategy can be implemented with a better chance of success. Read more here.

Warner Bros. Discovery on Thursday announced a restructuring plan to segment its business into linear and streaming units. Longtime TV powerhouse HBO will be slotted under the streaming unit, according to a person familiar with the matter.