Warner Bros. Discovery is owned as a publicly traded company with shares held by various institutional and individual investors. The company was formed from the merger of WarnerMedia's spin-off by AT&T and Discovery, Inc. in April 2022. As of 2025, David Zaslav is the President and CEO. The company announced plans to separate into two publicly traded companies by mid-2026: one focusing on Streaming & Studios and the other on Global Networks. Additionally, there is a developing situation where Paramount Skydance, backed by billionaire Larry Ellison and his family, is preparing a bid to acquire Warner Bros. Discovery. This potential acquisition could reshape ownership, but as of now, the company remains publicly owned with a broad shareholder base.