HBO Family, which first launched in 1996, is known for kid-friendly programming such as “Sesame Street.” ThrillerMax, which launched in 1998, specializes in horror, mystery, suspense and thrillers and runs a primetime film block called “When the Clock Strikes 10.”

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.

It comes as streaming services attract hundreds of millions of users around the world but cable TV has seen audiences decline.