Company Profile
The origin of the company
Warner Bros. Discovery (ticker: WBD) was formed on April 8, 2022 by the merger of Warner Media and Discovery, which were spun off from AT&T. The new company will begin trading on Nasdaq on April 11, 2022.
For AT&T, see my previous post “Decisive factor for AT&T and Verizon stocks valuation” for a detailed explanation.
Parent company
On May 17, 2021, AT&T announced that it agreed to sell its stake in WarnerMedia and merge it with Discovery to form a new company, subject to regulatory approval, by mid-2022. AT&T shareholders will own 71 percent of the new company and appoint seven board members, while Discovery shareholders will own 29 percent and appoint six board members. Additionally, AT&T will receive $43 billion in cash and debt from the spin-off.
Media Assets Warner Bros. Discovery own
| Business unit/Asset | Description |
| Warner Bros. Pictures Group | Composed of the company’s filmed entertainment and theatrical entertainment businesses, including Warner Bros. Pictures, New Line Cinema, Warner Bros. Pictures Animation and Castle Rock Entertainment. |
| Warner Bros. Television Group | Composed of the company’s filmed entertainment and theatrical entertainment businesses, including Warner Bros. Pictures, New Line Cinema, Warner Bros. Pictures Animation and Castle Rock Entertainment. |
| Home Box Office | is the parent company of the HBO and Cinemax television services. The unit also oversees production on Warner Bros. Discovery’s streaming service, Max Originals, as well as Discovery’s former venture, Magnolia Network. |
| CNN Global | Operates CNN News and other global broadcast news properties owned by Warner Bros. Discovery, including sister network HLN and CNN’s various international affiliates. |
| DC Entertainment | Composed of comic book publisher DC Comics and its associated intellectual property. The division works with other Warner Bros. Discovery divisions to adapt content based on its properties, such as movies, television series and video games. |
| Warner Bros. Discovery U.S. Networks | Owns and operates most of the company’s linear cable networks in the United States, including former brands of Discovery Communications channels (such as Discovery Channel, TLC, Animal Planet, OWN, and Investigation Discovery), Scripps Networks Interactive Channel |
| Warner Bros. Discovery Sports | Brand names used by sports related departments. The U.S. division manages the company’s domestic broadcast sports business, including MLB Network, NBA TV, AT&T SportsNet and sports media site Bleacher Report, while the European division is responsible for Warner Bros. Discovery’s international sports business, including Eurosport and BT Sport, as well as Sports Warner Bros. Discovery’s Latin American division, Warner Bros. Discovery Sports Latin America, owns TNT Sports, the sports channel that replaces Esporte Interativo. |
| Warner Bros. Discovery Global Streaming & Interactive Entertainment | Managed operations of the company’s direct-to-consumer platforms, online brands and gaming businesses, including streaming services Max and Discovery+, video game publisher Warner Bros. Games and digital media company Rooster Teeth. |
| Warner Bros. Discovery Global Brands and Experiences | Manage Warner Bros. theme park and studio tours. Other business units include those responsible for global content distribution (including Warner Bros. Worldwide Television Distribution and Warner Bros. Home Entertainment) and advertising sales. |
| Warner Bros. Discovery International | Focused on local and regional changes to global markets through the operation of its domestic TV channels, including region-specific operations such as TVN Group in Poland and Three in New Zealand, as well as responsibilities for CNN Global and Warner Bros. Discovery Sports. The department is headed by Gerhard Zeiler. It is divided into four regional hubs: Warner Bros. Discovery Asia Pacific, Warner Bros. Discovery EMEA, TVN Warner Bros. Discovery (Poland) and Warner Bros. Discovery Americas. |
Main competitor
Warner Bros. explores that the main competitors include the following listed companies. Please note that these companies are all very big:
- Disney (ticker: DIS)
- Netflix (ticker: NFLX)
- Amazon Prime Video (ticker: AMZN)
- Comcast’s Peacock (ticker: CMCSA)
- Youtube (ticker: GOOGL and GOOG)
- Apple TV+ (ticker: AAPL)
Warner Bros. Discovery’s ticker
AT&T eventually spun off Warner Bros. Discovery on April 8, 2022, and the two stocks began trading separately on April 1. Warner Bros. Discovery’s stock symbol is WBD.
In addition to HBO and Discovery properties, Warner Bros. Discovery also includes CNN and Warner Bros. The media giant is big enough to rival Disney (ticker: DIS).
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