Warner Bros. Discovery

Warner Bros. Discovery, Inc. is an American multinational mass media and entertainment conglomerate headquartered in New York City. It was formed through the spin-off of WarnerMedia by AT&T, and its merger with Discovery, Inc. on April 8, 2022. Warner Bros. Discovery operates via two divisions: Streaming & Studios and Global Linear Networks. Streaming & Studios includes the flagship Warner Bros. studios, HBO, DC Entertainment, and streaming services such as HBO Max and Discovery+. Global Linear Networks largely includes advertising-supported cable networks. Those networks were inherited from its predecessors Discovery (such as the Discovery Channel among others), Scripps Networks Interactive (such as HGTV among others), and Turner Broadcasting System (such as Cartoon Network, Boomerang, CNN, TBS, and TNT). Warner Bros. Discovery International is also included in the division, which manages broadcasting operations outside of the United States. In June 2025, WBD announced plans to divest the Global Linear Networks division into a new company, later referred to as "Discovery Global", in order to separate it from the more profitable Warner Bros. studios business. However, on October 21, 2025, the company withdrew from the proposal to split the company in favor of putting it on sale; following multiple unsolicited bids by Paramount Skydance, Comcast, and Netflix, Inc. to buy the company, Netflix would win a bidding war for the studios business in December 2025. However, following multiple hostile counter-offers by Paramount Skydance, WBD backed out of the Netflix offer and agreed to be acquired in full by Paramount for $110 billion; the sale has been approved by the U.S. Department of Justice and other international authorities. Its consummation had been delayed due to an antitrust lawsuit by 12 Democratic Attorneys General and the WGA; originally set for March 2, 2027, the case was settled in September 2026, clearing the way for Paramount...