Warner Bros. is one of the oldest and most famous film and entertainment-studio names in Hollywood. Originally founded in 1923 by four brothers — Harry Warner, Albert Warner, Sam Warner and Jack Warner — it grew into a major film production and distribution studio.
Today, Warner Bros. does not exist as a standalone privately held entity. Instead, it is part of a larger corporation — Warner Bros. Discovery, Inc. (WBD), a publicly traded global media and entertainment conglomerate headquartered in New York City.
Ownership Status of Warner Bros. / Warner Bros. Discovery
Because Warner Bros. is a subsidiary of Warner Bros. Discovery, its ownership is determined by who owns WBD. As WBD is publicly traded (NASDAQ ticker: WBD), there is no single “owner.” Instead, ownership is distributed among a mix of institutional investors, mutual funds, ETFs, and individual shareholders.
| Company Name | Warner Bros. |
| Status | Subsidiary of Warner Bros. Discovery, Inc. (WBD) |
| Current Owner | Warner Bros. Discovery (publicly traded) — Netflix acquisition pending |
| Founder | Harry, Albert, Sam & Jack Warner (founded 1923) |
| Pending Deal | Netflix acquisition of WBD’s studios & streaming assets (~$82.7B deal, mid-2026 expected close) |
Major Shareholders of Warner Bros. Discovery (WBD)
Because Warner Bros. Discovery is publicly traded, ownership is distributed among institutional investors, mutual funds, ETFs, and individual shareholders. Key institutional shareholders include:
| Shareholder / Entity | Role |
|---|---|
| Vanguard Group | Major institutional investor in WBD |
| BlackRock | Major institutional investor in WBD |
| State Street Corporation | Major institutional investor in WBD |
| Individual / Retail Shareholders | Collectively own substantial portion alongside institutions |
Corporate Structure: How Warner Bros. Fits In
On April 8, 2022, the former entertainment-media unit of AT&T — known as WarnerMedia — was merged with Discovery, Inc., forming Warner Bros. Discovery. In December 2024, WBD restructured into two divisions: Global Linear Networks (TV networks, cable channels) and Streaming & Studios (film studios, HBO/Max, games).
Under the proposed Netflix transaction, the Streaming & Studios division — which includes Warner Bros. as a film studio and HBO/Max as the streaming platform — would transfer to Netflix. The Global Linear Networks division (cable TV assets like CNN, TNT, TBS) would be spun off as a separate company.
Recent Developments & What It Means for Ownership
The ownership of Warner Bros. is undergoing its most significant transformation since the AT&T/WarnerMedia era:
- Late 2025: Netflix agreed to acquire WBD’s studios and streaming business in a deal valued at approximately $82.7 billion.
- Mid-2026 (expected): Following WBD’s spin-off of its cable-network arm, Netflix is expected to complete the acquisition and become the new owner of Warner Bros.’ film studios, HBO/Max, and related assets.
- May 2026: The transaction is in its final expected phase. The cable-network spin-off — a key precondition — is approaching the targeted mid-2026 completion window.
FAQs
1. Who is the current owner of Warner Bros.?
Warner Bros. is currently part of Warner Bros. Discovery (WBD), a publicly traded company. An acquisition by Netflix of the studios and streaming assets is pending, with expected close around mid-2026.
2. Is Warner Bros. privately owned or public?
Warner Bros. itself is a subsidiary of the publicly traded Warner Bros. Discovery. It is not independently public or private.
3. Who founded Warner Bros.?
Warner Bros. was founded in 1923 by four brothers: Harry Warner, Albert Warner, Sam Warner, and Jack Warner.
4. Has the ownership of Warner Bros. changed recently?
Yes — significantly. In 2022, WarnerMedia merged with Discovery to form Warner Bros. Discovery. In late 2025, WBD agreed to sell its studios and streaming assets to Netflix in a deal expected to close mid-2026.
5. Who will own Warner Bros. after the acquisition?
Netflix will own Warner Bros.’ film studios, HBO/Max streaming, and related entertainment assets once the deal closes. WBD’s cable TV assets will become a separate company.
