Hollywood conglomerate Warner Bros. Discovery on Monday made it official, unveiling plans to separate the company, in a tax-free transaction, into two publicly traded companies, “enabling each to maximize its potential.”

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,

WBD CEO David Zaslav will become president and CEO of Streaming & Studios, with CFO Gunnar Wiedenfels in charge of Global Networks.