Who Owns the Media: Warner Bros. Discovery

Warner Bros. Discovery 🐔🐔🐔

Capitulation Rank: Capitulating
Category: Broadcasting & Entertainment 
Market Cap: $27.70 billion

During a 2024 Warner Bros. Discovery (WBD) earnings call, CEO David Zaslav said the Trump administration “may offer a pace of change, and an opportunity for consolidation … that would provide a real positive and accelerated impact on this industry that’s needed.”

John Malone, a conservative media magnate who sits on WBD’s board, has pressured the company-owned CNN to shift from what Malone claims is a liberal bias and toward a Fox News style of coverage. And, indeed, Zaslav’s office reportedly reached out to the White House to see how the company could warm relations with Trump.

CNN had already begun to bend toward MAGA: Prior to its coverage of Trump’s 2025 inauguration, network chief Mark Thompson told the newsroom’s top journalists to reel in their criticism of Trump during the day’s ceremonies. This included avoiding mention of the incoming president’s record as a convicted felon or the fact that he exited office as a twice-impeached, disgraced president who had incited a violent attempt to overthrow Joe Biden’s 2020 election.

DEI Doublespeak:

Warner Bros. Discovery has changed its language and policies on DEI, saying its work in this space will now be referred to as “inclusion.” Despite these changes, executives state that the company’s “core values remain unchanged,” and that they remain committed to telling stories that reflect “diverse voices and perspectives.”

What It Owns:

Warner Bros. Discovery controls dozens of broadcast and cable channels (including Animal Planet, Cartoon Network, CNN, Discovery, Food Network, MLB Network, TBS, TNT and the Travel Channel); dozens of film and television production companies (including Box Office Animation, Inc., Castle Rock Entertainment, New Line Cinema and Warner Bros. Feature Productions); internet-delivered subscription video-on-demand services (including Boomerang, DC Universe, Estádio TNT Sports and Max). WBD also controls the website of its various cable channels (including CNN, CNN International, Golf and  Discovery); and publication companies (including DC Comics, GeoNova Publishing and The Golf Digest Companies).

Money & Influence Game:

Warner Bros. Discovery paid lobbyists $3,140,000 in 2024, and its employees made $4,855,545 in contributions to political candidates (2024 cycle). (SOURCE: Center for Responsive Politics)