Warner Bros. (WB) is currently part of Warner Bros. Discovery, which has agreed to be acquired by Paramount Skydance Corporation, so ownership is in the middle of changing hands.

Who owns WB right now?

In 2026, “WB” (meaning Warner Bros. film and TV studios) sits inside Warner Bros. Discovery, Inc. (WBD) , a public media and entertainment company. WBD itself has accepted a definitive merger/acquisition agreement under which Paramount Skydance Corporation (Paramount) will acquire 100% of WBD.

So, in practical terms:

  • Day‑to‑day, WB is run under Warner Bros. Discovery.
  • Strategically, WBD has agreed to be bought by Paramount , which would make WB part of a larger Paramount‑led media group once the deal closes.

Because WBD is publicly traded, no single regular shareholder “owns WB” outright —ownership is spread across many institutional and individual shareholders until the Paramount transaction is completed.

The Paramount–WBD mega deal (latest news)

Paramount Skydance and WBD announced a definitive merger agreement in February 2026. Key points:

  • Paramount will acquire 100% of WBD for about 81 billion USD in equity value (around 110 billion USD enterprise value).
  • The deal is funded by 47 billion USD in equity , mainly from the Ellison family and RedBird Capital, plus 54 billion USD in debt commitments from major banks.
  • Once closed, WB’s film and TV operations (the “WB” most people mean) will be controlled by this enlarged Paramount group.

Regulatory approvals and closing conditions still matter, so at this stage it is an agreed deal , not yet a fully integrated company.

What “WB” are you asking about?

“Who owns WB” can mean a few slightly different things:

  • Warner Bros. studio (movies and TV) – owned by Warner Bros. Discovery, which has agreed to be acquired by Paramount.
  • The old WB Television Network (the former “The WB” channel that merged into The CW) – its successor assets are split; The CW itself is mostly owned by Nexstar now, with WBD and Paramount each holding minority stakes.
  • Warner music labels (Warner Records, Warner Music Group) – those were separated long ago and are owned by Warner Music Group, which is independent from Warner Bros. Discovery.

If you meant one of these specifically (like “the old WB TV network” or “the WB channel that had Smallville and Gilmore Girls”), the ownership details shift slightly, but for modern WB movies, HBO‑related TV, and major franchises , you’re talking about Warner Bros. Discovery on its way into Paramount’s hands.

Quick fact list (for forum use)

  • WB’s core studio is part of Warner Bros. Discovery (WBD).
  • WBD is a public company , so ownership is spread across shareholders.
  • Paramount Skydance has signed a definitive agreement to acquire WBD 100%.
  • Deal value: about 81 billion USD equity , 110 billion USD enterprise value.
  • After closing, WB will effectively be under Paramount’s corporate umbrella.

Simple HTML table for clarity

[7][1] [5][9] [1] [1][5] [9][5] [5] [1] [1] [7] [7]
What “WB” means Current / structural owner Notes
Warner Bros. film & TV studio (most common meaning of “WB”) Warner Bros. Discovery, Inc. Public company; has agreed to be acquired 100% by Paramount Skydance.
Corporate parent of WB today Warner Bros. Discovery (WBD) shareholders. Ownership dispersed across institutional and retail investors until Paramount deal closes.
Future parent if deal closes Paramount Skydance Corporation. Paramount to pay about 31 USD per WBD share, backed by Ellison family and RedBird capital plus major- bank debt.
Legacy WB TV Network (“The WB” channel) Nexstar owns 75% of The CW; WBD and Paramount each own 12.5%. The WB brand as a standalone network is defunct; assets are folded mainly into The CW structure.
Warner music labels (Warner Music Group / Warner Records) Warner Music Group (separate company). Spun off; no longer under Warner Bros. Discovery.
**TL;DR:** Right now WB belongs to **Warner Bros. Discovery** , but there is a signed deal for **Paramount Skydance** to acquire WBD entirely, so WB is on track to become part of a larger Paramount‑led media giant once that transaction closes.

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