Warner Bros. Discovery became the latest media giant hit by the rise of cord-cutting and streaming to announce a restructuring, with plans to split its TV business from its streaming and film studios.

Warner Bros Discovery on Thursday decided to separate its declining cable TV business from the streaming and studio operations, laying the groundwork for a potential sale or spinoff of its TV business as cord-cutting picks up pace.

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.