Warner Bros. Discovery

DISCK · — · Media/Press, Entertainment · Founded 2022

Warner Bros. Discovery, Inc. was an American multinational mass media and entertainment conglomerate headquartered in New York City. It was formed on April 8, 2022, by the merger of Discovery, Inc. with AT&T subsidiary WarnerMedia, with the latter being the successor of Kinney National Company and Time Inc. Warner Bros. Discovery operated via two divisions: Streaming & Studios and Global Linear Networks. Streaming & Studios included the flagship Warner Bros. studios, HBO, DC Entertainment, and streaming services such as HBO Max and Discovery+. Global Linear Networks largely included 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 CNN, TBS, and TNT among others). Warner Bros. Discovery International was also included in the division, which managed broadcasting operations outside of the United States. In June 2025, Warner Bros. Discovery announced plans to spin off the less-profitable Global Linear Networks division, and its debt, as a separate company, retaining the more profitable Streaming & Studios division. However, on October 21, 2025, the company changed course and was put up for sale, resulting in a bidding war that involved Paramount Skydance, Comcast, and Netflix; in December 2025, Netflix won the bidding war to buy the Streaming & Studios business for $82.7 billion. Paramount Skydance outbid them with a $110.9 billion offer for the entire company on February 24, 2026, with the acquisition agreement confirmed three days later. The acquisition closed on October 6, 2026, with Paramount Skydance being restructured and renamed Skydance; and its stock was transferred to the New York Stock Exchange under the ticker symbol "SKYD".