Warner Bros. Discovery, as it telegraphed six months ago, is breaking itself into two chunks. One company will be “WBD Streaming & Studios,” encompassing Warner Bros. Pictures, HBO, Max/HBO Max and more.

The first of these two companies is tentatively dubbed "Streaming & Studios," though it will almost certainly maintain the Warner Bros. name. This company will comprise Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO and the streaming service HBO Max, along with these brands' existing film and television libraries.

The film and television giant will turn its cable networks, including CNN and TNT, into one company and its streaming and studios business into another.

HBO Max will expand to 12 New territories in July; WBD execs outlined the local programming strategy at NEM Dubrovnik.

Warner Bros. Discovery has announced that HBO Max will continue its global rollout, with new markets including Iceland and Estonia.