Warner Bros. Discovery

Warner Bros. Discovery is an American multinational mass media and entertainment conglomerate formed on April 8, 2022, through the merger of WarnerMedia, which AT&T had spun off, and Discovery, Inc. The $43 billion deal combined WarnerMedia's entertainment, sports, and news assets, including Warner Bros. film and television studios, HBO, CNN, DC Comics, and Turner networks, with Discovery's nonfiction and international portfolio, which included Discovery Channel, HGTV, Food Network, TLC, and Animal Planet. The company operates across film, television, streaming, and gaming, with a global reach of 1.1 billion unique viewers in 68 languages across 200 countries and territories.

Headquartered in New York City, Warner Bros. Discovery is led by President and CEO David Zaslav, who previously served as CEO of Discovery, Inc. The company's portfolio includes the streaming services HBO Max (available in 77 markets) and discovery+, television networks such as CNN, HBO, TNT, TBS, Cartoon Network, Adult Swim, and Eurosport, film studios including Warner Bros. Pictures and DC Studios, and Warner Bros. Games. The company's intellectual property includes Harry Potter, DC superheroes, Game of Thrones, and Looney Tunes.

Warner Bros. Discovery has faced financial challenges amid the industry shift from traditional television to streaming, reporting a net loss of $3.1 billion in its most recent fiscal year on revenue of $41.3 billion. In June 2025, the company announced plans to separate into two publicly traded companies: one focused on streaming and studios, the other on global networks. The separation is intended to position each business for success in the evolving media landscape. [edit]