Warner Bros. Discovery, also known as WBD, is a publicly owned entity headquartered in New York City, United States. Formed on April 8, 2022, from WarnerMedia's spin-off by AT&T and its subsequent merger with Discovery, Inc., the company employs approximately 35,500 individuals and reported $37.3B in revenue as of 2025. As an entertainment provider, its properties are divided into two divisions: Streaming & Studios, which encompasses Warner Bros. studios, HBO, DC Entertainment, and the company's streaming services, and Global Linear Networks, which consists of advertising-supported cable networks inherited from predecessors Discovery (including Discovery Channel), Scripps Networks Interactive (including HGTV), and Turner Broadcasting System (including Cartoon Network, CNN, TBS, and TNT). This division also includes Warner Bros. Discovery International, overseeing broadcasting operations outside the United States. Its subsidiaries include Ole Distribution, WBD Networks (Discovery), WBD Studios, Warner Bros. Discovery Ad Sales, and Warner Bros. Discovery Direct-to-Consumer.

2025 Revenue

Founded

2022

Headcount

35,500

Headquarters

United States

Primary Segment

Entertainment Providers

Ownership

Publicly Owned

News Summary:

On August 27, 2026, the state attorneys general for Iowa and Montana asked the U.S. Supreme Court to block California’s "politicized" lawsuit aimed at stopping the proposed merger between Paramount and Warner Bros. Discovery. Earlier the same day, the Block the Merger Coalition launched a petition urging 12 state attorneys general to reject "empty concessions" from Paramount and maintain their opposition to the $110 billion merger. This followed California Attorney General Rob Bonta's statement that settlement talks with Paramount executives could resume, after he canceled them on August 24 citing Paramount’s alleged media leaks. Previously, Wall Street banks reportedly eyed Warner Bros. Discovery's New Line Cinema and cable TV assets like TNT, TBS, and HGTV as potential spin-off properties, as final regulatory approval for Paramount’s $110.8 billion acquisition of Warner Bros. Discovery might hinge on the divestment of select assets from the combined entity.
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Warner Bros. Discovery currently holds 124 broadcasting rights for sports competitions including cycling, snooker, wrestling, cricket, sailing, professional wrestling, surfing, triathlon, biathlon, motorsports, tennis, athletics, equestrianism, soccer | association football, combat sports, ice hockey, multi-sport, marathon, climbing, golf, winter sports, rugby union, beach volleyball and basketball.

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