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.”

Subscribers to the company’s flagship streaming service, Max, watch HBO content, studio movies and older Warner Bros. series — and little else.

I t’s been barely four days since Warner Bros. Discovery announced its plan to carve up the company anew, and we already have some idea of what the strategy looks like behind sp