Warner Bros Discovery said on Thursday it would implement a new corporate structure where it would serve as the parent for two distinct operating divisions — linear TV business and a unit comprising its studios and streaming platform.

Warner Bros. Discovery, led by CEO David Zaslav, has become the latest Hollywood studio to rework its corporate structure with an eye toward a possible spin off of its legacy TV assets. WBD on Thursday said it was reorganizing its corporate structure into a global linear TV division, separate from from its streaming and studios division.

Warner Bros. Discovery Inc. is changing its corporate structure and creating separate divisions for its cable and streaming businesses.

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 announced plans Thursday to separate its linear TV from studios and streaming to create "two distinct operating divisions." The new strategy was revealed after Comcast said it planned to spin off its NBCUniversal cable networks into a publicly traded company.