By Dawn Chmielewski, Aditya Soni and Jaspreet Singh LOS ANGELES (Reuters) -Warner Bros Discovery said it would split into two publicly traded companies, separating its studios and streaming business from its fading cable television networks as the parent of HBO and CNN looks to compete better in the streaming era.

Hours after David Zaslav announced Warner Bros. Discovery was spinning off its networks business, Chuck Lorre has tabled a bid. The Big Bang Theory co-creator jokingly offered to buy the business, which includes networks such as CNN,

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.