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Warner Bros Discovery

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Global media and entertainment content and brand portfolio

New York City, United StatesFounded 1923eCommerce & Marketplaces
Valuation $77B Market cap · 2026
Revenue $36B Latest reported FY
EBITDA $8.39B Latest reported FY

About Warner Bros Discovery

The story of Warner Bros. Discovery is a playbook of two separate, century-spanning journeys that ultimately converged. The first began in 1923, when four immigrant brothers—Harry, Albert, Sam, and Jack Warner—formally incorporated Warner Bros. Pictures. Starting with a single movie projector in the early 1900s, they built a film empire, pioneering the age of “talkies” with "The Jazz Singer" in 1927. Decades later, in 1985, John Hendricks launched The Discovery Channel, a single cable network dedicated to documentary and nature programming. While Warner Bros. navigated the golden age of Hollywood, Discovery carved out a niche in non-fiction television, expanding its portfolio with channels like Animal Planet and TLC. The paths of these two media giants began to intertwine through a series of major corporate shifts. Warner Bros. went through several ownership changes and mergers, including with Time Inc. in 1990 and an acquisition by AT&T in 2018, which rebranded the division as WarnerMedia. Meanwhile, Discovery grew by acquiring other networks, notably Scripps Networks Interactive in 2018, which added HGTV and Food Network to its holdings. The final, transformative chapter came in April 2022, when AT&T spun off WarnerMedia, which then merged with Discovery, Inc. in a massive $43 billion deal. This monumental transaction created the new entity, Warner Bros. Discovery, combining Warner's iconic film and television studios with Discovery's extensive library of unscripted content under a single roof.

Source: Dealroom company data

At a glance

Status
Listed
Founded
1923
Headquarters
New York City, United States
Listing
IPO 2022
Employees
43,891
Open positions
272
Dealroom signal
0.0/100
Industry
Fashion, Media
Sector
eCommerce & Marketplaces, Video Games, Film Production, Music, Content, Entertainment, Media and Entertainment, Outside Tech, Producer
Business model
Marketplace & ecommerce
Client focus
b2c
Investment activity
19 companies, latest Dec 2024
Capital deployed
$2B
Preferred round
ACQUISITION

Funding history

5 recorded events

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
POST IPO DEBTDebt May 2026 $15B — JPMorgan Chase & Co ↗
ACQUISITION✓Exit Feb 2026 $111B $111B Paramount ↗
Showing the latest 2 of 5 recorded eventsBook a demo for the full funding history →

Financials

Revenue, earnings and profit over time

Revenue, earnings and other financial measures where available. Years marked “E” are estimates.

YearRevenueGrowthEBITDAMarginProfitMargin
2026 $36B -2.8% $8.4B 23.1% −$2.7B -7.5%
2025 $37B -5.1% $19B 51% $727M 1.9%
2024 $39B -4.8% $21B 53.7% −$11B -28.8%
2023 $41B +22.2% $23B 56.1%
2022 $34B +177.4% $18B 52.6%
2021 $12B +14.2% $7.1B 58.4%
2020 $11B — $7B 65.4%
Company filings, research estimates and Dealroom dataBook a demo for the full financial model →

Growth signals

Warner Bros Discovery website traffic

Latest recorded traffic for Warner Bros Discovery is 2M monthly website visits, up 42.9% over the last three months. Warner Bros Discovery's team grew 86.5% over the past year.

Latest monthly visits2M 3-month web change+42.9% 1-year team growth+86.5%
Summary metrics are public; monthly history is available with a demoCompare with peers →

Similar companies

Closest operating peers by Dealroom taxonomy

Company identity and context are open; selected comparison metrics preview what is available on the platform.

Showing 8 of the closest matchesCompare every metric →

Investments and acquisitions

Capital deployed

Recent portfolio relationships for companies that also act as investors or acquirers.

UnrivaledMiami, United StatesA professional 3x3 women's basketball league, offering a domestic offseason competition for WNBA players $650Mvaluation BluTVIstanbul, TürkiyeBluTV is world's leading platform for Turkish TV content and Turkey's #1 subscription video-on-demand service $57Mvaluation Professional Triathletes OrganisationLondon, United KingdomThis company is dedicated to showcasing the athleticism and determination of professional triathletes $158Mvaluation Palm NFTNew York City, United StatesAn NFT ecosystem for culture and creativity, built efficiently with Ethereum $108Mvaluation HBO MaxNew York City, United StatesStreaming service from Warner Brothers offering on-demand movies and series worldwide QuibiLos Angeles, United StatesMedia company developing short-form media content designed for smartphones $100Mvaluation DreamscapeCulver City, United StatesA company that uses VR technologies to create an entirely new form of mainstream location based entertainment $120Mvaluation HOOQSeoul, South KoreaJoint venture start-up, to offer a regional over-thetop (OTT) video service in Asia $280Mvaluation CHILItvMilan, ItalyEntertainment company distributing movies and series over connected TVs and devices in Italy, UK, Germany, Austria and Poland $30Mvaluation MachinimaBurbank, United StatesAn online entertainment network that features clips and teasers from numerous video games $96Mvaluation Magic LeapPlantation, United StatesDevelops mixed reality computing platform that enables users to interact with the world $2Bvaluation Television FourSanta Monica, United States

Investors

4 investors on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Series B and later3 investors entered at this stage

  • JP Morgan
  • STRS Ohio
  • JPMorgan Chase & Co

Other known investors1 additional known investor

  • Paramount
Team profiled 701 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 6 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Global footprint

Workforce and web traffic by country
Workforce by country
🇺🇸 United States · New York City HQ
Book a demo for the full country breakdown

Market sentiment

Posts on X, past 7 days

An AI-synthesised read of the highest-engagement posts about Warner Bros Discovery on X, ranked by likes and reposts, corporate channels excluded.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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