Warner Bros. Discovery, Inc.

Warner Bros. Discovery was created on April 8, 2022, when Discovery, Inc. completed its merger with AT&T's WarnerMedia business. The combination brought together Warner Bros.' film and television studios, HBO, CNN, sports and news assets with Discovery's nonfiction, lifestyle and international entertainment portfolio.

The company operates across streaming, studios and global linear networks. Its brands include HBO Max, Warner Bros., DC Studios, CNN, Discovery Channel, TLC, Food Network, TNT Sports, Warner Bros. Television and Warner Bros. Games. In 2025, streaming growth and HBO Max's international expansion were central priorities, while the company continued to manage pressure on its traditional television networks.

For applicants, WBD offers exposure to a large, content-led business spanning creative production, distribution, advertising, technology, finance and corporate functions. The company has agreed to be acquired by Paramount Skydance, but the transaction had not closed by September 25, 2026; a court stipulation prevents closing or operational integration until the earlier of five days after a merits ruling or June 1, 2027.