Yahoo Finance Warner Bros. Discovery history: Beyond the Ticker
Warner Bros. Discovery (WBD) – a company with deep roots in the entertainment industry for over a century – was only formed a short two years ago.
Beyond the Ticker takes a deep dive into the media giant’s history, as it grapples with legacy media challenges and looks to build its streaming business into a serious industry player.
1923
Warner Brothers was founded on April 4, 1923, and quickly built itself into one of the Big Five American studios, alongside Universal Pictures (CMCSA), Paramount Pictures (PARA), Walt Disney Studios (DIS), and Sony Pictures (SONY).
1966
The Kinney National Company was formed. Its media division became Warner Communications.
1982-1985
Discovery was founded as the Cable Educational Network. The Discovery Channel launched soon after in 1985.
1990
Warner Communications was established as Time Warner, following a high-profile merger with Time Inc., that created the largest media company at the time.
1996
Time Warner purchased the Turner Broadcasting System in a $7.5 billion deal. That led to the acquisition of assets like HBO, Cinemax, Warner Bros. Studios, CNN, and Turner Sports.
2018
Time Warner was acquired by AT&T (T) for $85.4 billion. It was renamed WarnerMedia.
2022
The two companies officially merged after WarnerMedia was spun off by AT&T, joining forces with Discovery in a deal valued at $43 billion.
Trading began on the Nasdaq on April 11, 2022, under the new ticker symbol WBD. Shares opened at $24.08 per share.
2023
The joint company’s first major project – the streaming launch of Max – offered content from Warner Bros., Discovery Channel, HBO, CNN, Cartoon Network, Animal Planet, and more.
But despite various profitability hurdles, Warner Bros. Discovery is still aiming for a top spot in the ever-evolving entertainment industry – with investors awaiting its next wave of innovation.
From tech giants to retail titans, Beyond the Ticker is a historical series that takes a deep dive into some of Wall Street's trending companies and how they transformed into the financial icons they are today.
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Editor's note: This video was produced by Zach Faulds.
Video Transcript
Warner Brothers discovery a company with deep roots in the entertainment industry for over a century, but it was only formed a short two years ago.Beyond the ticker takes a deep dive into the media giant's history as it grapples with legacy media challenges and looks to build its streaming business into a serious industry player.Warner Brothers was founded on April 4th 1923 and quickly built itself into one of the big five American studios alongside Universal Pictures, Paramount pictures, Walt Disney Studios and Sony.In 1966 the Kinney National Company was formed, its media division became Warner Communications.Meanwhile, Discovery was founded in 1982 as the cable education network.The Discovery Channel launched soon after that.In 1985 5 years later, Warner Communications was established as Time Warner that followed a high profile merger with Time Inc that created the largest media company at the Time Time Warner then went on to purchase the Turner Broadcasting System in a $7.5 billion deal in 1996 that led to the acquisition of assets like HBO CNN and Turner Sports Flash forward to 2018 and Time Warner was acquired by AT&T for 85.4 billion.It was renamed Warner Media.The two companies officially merged in 2022 after Warner Media was spun off by AT&T joining forces with Discovery and a deal valued at 43 billion.Trading began on the NASDAQ on April 11th, 2022.Under the new ticker symbol WBD, the stock opened at $24.08 a share to join company's first major project, the 2023 streaming launch of Max which offered content from Warner Brothers discovery channel HBO CNN, Cartoon Network, Animal Planet.And more WBD is still aiming for a tough spy in the ever evolving entertainment industry with investors closely waiting for its next wave of innovation.
