The American owner of TVN has made an important decision

The streaming company and studios will include Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO and HBO Max , as well as film and television libraries. The company will be led by CEO David Zaslav, Bloomberg reported.

Chief Financial Officer Gunnar Wiedenfels will run the new Global Networks company, which will include entertainment, sports and news television brands including CNN and Poland’s TVN .

Warner Bros. recently completed a restructuring of two divisions to address consumers’ shift away from traditional pay TV to new online options.

U.S. media groups have struggled to improve their profitability amid a costly streaming war with Netflix Inc. Analysts are predicting a wave of consolidation as companies try to rebound from the post-pandemic slump, Bloomberg reported.