Warner Bros. Discovery, Inc. is a multinational mass media and entertainment conglomerate headquartered in New York City. It includes Warner Bros. film and television studios, DC Comics, HBO, CNN, TNT Sports, Discovery+, Warner Bros. Games, and more.
In 1903, Warner Bros. founders, Sam and Albert Warner, opened their first theater called the Cascade in New Castle, Pennsylvania. This marked the beginning of their journey in the movie theater business.
In 1904, Warner brothers founded the Duquesne Amusement & Supply Company in Pittsburgh to distribute films.
By 1907, Warner brothers were operating the Cascade Theatre in New Castle, Pennsylvania.
In 1912, the Warner brothers founded the Duquesne Amusement & Supply Company in Pittsburgh to distribute films. This step played a crucial role in their expansion into the film industry.
In 1918, Warner Bros. established their West Coast Studios at 5842 Sunset Blvd, marking a significant expansion of their film production operations.
On April 4, 1923, Warner Bros. Pictures was formally incorporated by the Warner brothers - Harry, Albert, Sam, and Jack. They started as a film studio and later expanded into various entertainment sectors like animation, television, and video games.
In 1924, Warner Bros. gained backing from Wall Street and arranged a major loan through Goldman Sachs.
In 1925, Warner Bros. held meetings with Western Electric and Bell Laboratories to discuss 'talking pictures' technology. They also installed new sound equipment in the Vitagraph Studios they had recently acquired in Brooklyn.
On August 6, 1926, the premiere of 'Don Juan' took place at Warners’ Theatre in New York, showcasing Warner Bros.' commitment to innovative film productions.
On October 6th, 1927, Warner Bros. released The Jazz Singer, changing the entertainment industry forever.
In a bidding war with William Fox, Warner Bros. acquired more shares of First National Pictures on September 13, 1928. Jack Warner also appointed Zanuck as the manager of First National Pictures.
In 1929, Warner Bros. purchased the St. Louis-based theater chain Skouras Brothers Enterprises, leading to Spyros Skouras becoming the general manager of the Warner Brothers Theater Circuit in America and turning its losses into profits.
On November 5, 1930, the film Disraeli was nominated for Best Picture at the 3rd Academy Awards.
In 1931, Lewis Warner, head of Warner Bros. Music, passed away from an infected wisdom tooth.
On November 18, 1932, the film Five Star Final received a nomination for Best Picture at the 5th Academy Awards.
Screenwriter Wilson Mizner, hired by Zanuck, passed away from a heart attack on April 3, 1933.
On March 16, 1934, the movie 42nd Street was nominated for Best Picture at the 6th Academy Awards.
In 1935, Harry Warner and six other movie studios were indicted for conspiring to violate the Sherman Antitrust Act in an attempt to monopolize St. Louis movie theaters.
Prior to US entry into World War II, Philip Kauffman, Warner Bros. German sales head, was murdered by the Nazis in Berlin in 1936. This event had an impact on Warner Bros.' involvement in producing anti-German films.
In 1937, Warner Bros. signed Midwestern radio announcer Ronald Reagan to a new contract after being impressed by his performance in the film Knute Rockne, All American. This marked the beginning of Reagan's journey to becoming a top star in Hollywood.
In 1939, Warner Bros. released major star George Raft from his contract due to difficulties working with other actors, particularly Humphrey Bogart. This decision led to Bogart being cast in significant roles that contributed to his rise as a top star in Hollywood.
During World War II, Warner Bros. cut its film production in half in 1941, leading to the elimination of its B Pictures unit. This decision was part of the studio's focus on producing war films.
In 1943, Olivia de Havilland sued Warner Bros. for breach of contract after the studio attempted to prevent her from working with other film production companies. The lawsuit had significant implications for the studio's contract policies.
Warner Bros. bought Schlesinger's cartoon unit in 1944 and renamed it Warner Bros.
In 1949, Harry Warner decided to focus on television production due to the success of television industry. However, the Federal Communications Commission did not allow Warner Bros. to pursue this direction.
On March 21, 1955, Warner Bros. was finally able to engage in television production through the successful Warner Bros. Television unit led by William T. Orr. This marked the studio's entry into television programming.
In May 1956, the Warner Bros. announced the decision to put Warner Bros. on the market. Jack Warner orchestrated a deal to purchase 90% of the stock and eventually became the company's largest stockholder and president.
In 1958, Warner Bros. launched Warner Bros. Records, initially releasing recordings made by their television stars and records based on television soundtracks.
In 1963, a court ruling mandated Warner Bros. to terminate contracts with their television stars and discontinue engaging them for specific series or film roles. This decision reshaped the studio's approach to talent management.
Turner Broadcasting System was founded in 1965 by Ted Turner in Atlanta, Georgia. It played a significant role in the media industry and later merged with Warner Communications to form Time Warner.
In 1969, Warner Bros. Cartoons was dissolved as the parent company decided to cease film shorts entirely. Characters like Bugs Bunny, Daffy Duck, and Porky Pig became iconic figures for the company.
In 1971, Warner Bros. and Filmation entered into an agreement to produce and distribute cartoons for film and television, with its television subsidiary handling worldwide television rights.
In late 1973, Warner Bros. partnered with 20th Century Fox to co-produce the film The Towering Inferno, resulting in the second-highest-grossing film of 1974 and influencing future co-productions between major studios.
In 1976, Warner Communications acquired video game company Atari, Inc., expanding its business ventures.
In 1979, Warner formed a joint venture with American Express called Warner-Amex Satellite Entertainment, which later led to the ownership of popular cable channels like MTV and Nickelodeon.
Robert A. Daly joined Warner Bros. on December 1, 1980, taking over from Ted Ashley as the chairman of the board and Co-Chief Executive Officer.
In 1981, Metro-Goldwyn-Mayer (MGM) acquired United Artists, taking over the ownership of the company. This acquisition reshaped the landscape of the entertainment industry during that period.
Cable Education Network, founded in 1985, was later renamed to Discovery Communications in 1994, marking a significant development in the media and entertainment industry.
In 1988, Warner concluded its international distribution partnership with Columbia Pictures, which had been operational since 1971. This decision marked a significant shift in Warner's global distribution strategy.
In 1989, Warner Bros. acquired Lorimar-Telepictures and gained control of the former MGM studio lot in Culver City, expanding its studio presence.
In 1991, Turner Broadcasting System expanded its portfolio by acquiring the renowned animation studio Hanna-Barbera and the Ruby-Spears library. This strategic move strengthened Turner's position in the animation industry.
Warner Bros. Family Entertainment was established in 1992 to produce family-oriented and animated films. The label became dormant in 2009.
On December 22, 1993, Turner Broadcasting System acquired Castle Rock Entertainment, adding a prestigious production company to its assets. This acquisition brought valuable content and talent under Turner's umbrella.
In January 1994, Turner Broadcasting System acquired New Line Cinema, a significant player in the film industry. This acquisition expanded Turner's reach and influence in the entertainment business.
In 1995, Warner Bros. and Tribune Company launched The WB Television Network targeting teenage viewers with popular shows like Buffy the Vampire Slayer, Smallville, and Charmed.
Time Warner acquired the Turner Broadcasting System in 1996, leading to a significant consolidation in the media sector and expanding its portfolio.
In 1998, Warner Bros. celebrated its 75th anniversary.
In 1999, Terry Semel and Robert Daly resigned as studio heads after a successful career with 13 Oscar-nominated films, known for popularizing partner financing and profit sharing in film production.
AOL Time Warner was formed in 2001 through the merger of Time Warner and AOL, creating a major media conglomerate that later reverted to the Time Warner name in 2003.
In 2004, Time Warner sold the Warner Music Group, including Warner Bros. Records, to a private equity group led by Edgar Bronfman Jr.
In 2006, Warner Bros. collaborated with China Film Group Corporation and HG to establish Warner China Film HG for film production in Hong Kong and China, creating movies like Connected, a remake of Cellular.
On January 4, 2008, Warner Bros. announced the discontinuation of HD DVD format in favor of Blu-ray Disc, impacting the release of movies following Blu-ray and DVD formats.
In April 2010, IMAX Corp. signed an agreement with Warner Bros. Pictures to release up to 20 giant-format films by 2013, enhancing the cinematic experience.
On February 6, 2014, the joint venture Columbia TriStar Warner Filmes de Portugal Ltda. announced its closure, effective March 31, 2014. This closure impacted the distribution of films from both Sony Pictures and Warner Bros. in Portugal.
On October 21, 2014, Warner Bros. established Blue Ribbon Content, a short form digital unit under Warner Bros. Animation, focusing on digital content creation.
Warner Bros. Digital Networks acquired online video company Machinima, Inc. on November 17, 2016, expanding its digital content offerings.
In June 2018, AT&T acquired Time Warner, Warner Bros.' parent company, leading to the formation of WarnerMedia and subsequent changes in the company's structure.
On March 4, 2019, WarnerMedia announced a reorganization plan that involved integrating Turner Broadcasting System assets directly under Warner Bros., reshaping the company's divisions.
Warner Bros. revealed a modernized version of its shield logo on November 13, 2019, designed by Pentagram for the company's centennial, featuring a more versatile appearance.
Warner Bros. and HBO Max introduced the Warner Max film label on February 5, 2020, aimed at producing mid-budget movies for the streaming service, although it was later discontinued in October 2020.
On May 16, 2021, Bloomberg News reported that AT&T was considering divesting its media subsidiary WarnerMedia and merging it with Discovery, Inc. to form a new publicly traded company. The merger would involve a Reverse Morris Trust structure with AT&T shareholders holding a 71% interest.
On June 1, 2021, it was announced that the merged company resulting from the AT&T and Discovery merger would be known as Warner Bros. Discovery. The company aimed to combine Warner Bros.' legacy of storytelling with Discovery's innovation.
On December 22, 2021, the European Commission approved the transaction involving Warner Bros. Discovery, allowing the merger to proceed.
On January 5, 2022, The Wall Street Journal reported that WarnerMedia and Paramount Global were exploring a possible sale of The CW, with Nexstar Media Group considered a leading bidder.
On January 26, 2022, AT&T CEO John Stankey stated that the merger was anticipated to be finalized during the second quarter of 2022.
On February 1, 2022, it was reported that AT&T had finalized the structure of the merger, where WarnerMedia would be spun off to AT&T's shareholders and then merge into Discovery Inc. to create a new company.
The United States Department of Justice approved the merger between AT&T and Discovery on February 9, 2022.
On March 11, 2022, Discovery's shareholders gave their approval for the merger with AT&T.
On March 14, 2022, Discovery CFO confirmed that merging Discovery+ and HBO Max into a unified platform was a long-term goal post-merger.
On April 8, 2022, AT&T divested WarnerMedia to its shareholders and merged with Discovery Inc. to establish Warner Bros. Discovery. The new entity is headed by Discovery's CEO David Zaslav, marking a significant corporate restructuring in the media industry.
Warner Bros. Discovery, Inc. commenced trading on the Nasdaq stock exchange on April 11, 2022, under the new ticker symbol 'WBD'. This marked the start of a new era for the company as a premier standalone global media and entertainment entity.
On April 21, 2022, Warner Bros. Discovery leadership announced the shutdown of CNN+'s streaming service due to incompatibility with their unified streaming service goal.
On April 26, 2022, Warner Bros. Discovery CEO contrasted the company's streaming approach with Netflix, emphasizing a balanced investment strategy and the merger's potential to reduce subscriber churn.
On May 11, 2022, Warner Bros. Discovery reorganized its executive positions, including eliminating roles from WarnerMedia and shifting network oversight. They also announced a joint venture with BT Group for BT Sport channels.
Warner Bros. Pictures head Toby Emmerich announced his resignation on June 1, 2022, to establish a new studio with a distribution deal with Warner Bros. Pictures.
On August 4, 2022, Warner Bros. Discovery released its second-quarter earnings report, revealing revenue and losses primarily from integration and restructuring expenses.
On August 15, 2022, Nexstar confirmed the acquisition of a 75% controlling interest in The CW, with Warner Bros. Discovery and Paramount retaining ownership stakes.
During a company town hall on September 28, 2022, David Zaslav addressed rumors of a possible sale of WBD, stating that the company was not for sale and had all the necessary resources for success.
On October 3, 2022, Nexstar completed the acquisition of a controlling interest in The CW, leading to Mark Pedowitz resigning as chairman and CEO, with Dennis Miller taking over as the network's president.
On October 11, 2022, Warner Bros. Television Group laid off 82 employees and eliminated 43 vacant positions as part of a restructuring that affected their unscripted and animation units.
On February 8, 2023, The Wall Street Journal reported that WBD changed its plans to merge Discovery+ with HBO Max, with the successor of HBO Max incorporating most Discovery content while Discovery+ continues to operate.
On February 24, 2023, WBD CEO David Zaslav confirmed the change in plans regarding Discovery+, stating that the service has profitable subscribers satisfied with its offerings.
On June 23, 2023, Martin Scorsese, Steven Spielberg, and Paul Thomas Anderson met with Warner Bros. Discovery executives, leading to the decision to place Turner Classic Movies (TCM) under Warner Bros. Pictures Group heads Michael De Luca and Pamela Abdy to ensure the preservation of its cultural significance and programming.
On 18 July 2023, TNT Sports was launched in the UK & Ireland, offering exclusive live sports such as Premier League, UEFA Champions League, and more. The launch was a result of a joint venture between BT Group and Warner Bros. Discovery.
In 2024, Warner Bros. Discovery, Inc. was established as a result of a merger or reorganization involving Warner Bros. and Discovery, Inc. It marked a significant event in the entertainment industry.