Warner Bros. Discovery, the parent company of Warner Bros., owns a vast portfolio of film studios, TV networks, streaming services, and intellectual properties as of early 2026. Recent developments include a major acquisition by Netflix announced in late 2025, reshaping its holdings. This deal, valued at around $72-82 billion, transfers key Warner Bros. assets like studios, HBO Max, and iconic franchises to Netflix.

Core Film & TV Assets

Warner Bros. Pictures leads its movie divisions, producing blockbusters across genres. Key subsidiaries include:

  • Warner Bros. Pictures Animation for animated features like The Lego Movie series.
  • DC Studios overseeing DC Universe properties such as Batman, Superman, and Wonder Woman.
  • New Line Cinema , home to The Lord of the Rings , The Conjuring , and Hobbit franchises.

Television arms feature Warner Bros. Television, producing hits for networks and streaming, alongside Warner Bros. Animation and Cartoon Network Studios.

Streaming & Networks

HBO Max (soon under Netflix) anchors streaming, with HBO content like The Sopranos and Game of Thrones. Cable networks include:

  • Turner networks: CNN, TNT, TBS, and Cartoon Network.
  • Partial stakes in The CW (12.5%) and Fandango Media (25%).

Max remains a powerhouse, though the Netflix deal shifts control of HBO libraries.

Iconic Properties & IP

Warner Bros. controls timeless franchises:

  • Harry Potter wizarding world.
  • Looney Tunes and Hanna-Barbera cartoons.
  • Studio classics like Casablanca , The Matrix , and Mad Max.

Recent sales note divestitures like Chilevisión and stakes in parks, but core IP endures.

Recent Changes

In December 2025, Netflix acquired Warner Bros., including film/TV studios and HBO Max, sparking forum buzz on studios like the Hollywood lot. Warner Bros. Discovery announced separation plans in June 2025, amid financial shifts. As of January 2026, integration details evolve, but properties like DC and Harry Potter now fall under Netflix oversight.

TL;DR : Warner Bros. owns DC, HBO, major films, and networks, but Netflix's 2025 buyout transfers most to new ownership.

Information gathered from public forums or data available on the internet and portrayed here.