Warner Bros. Discovery, Inc. operates across three core segments: streaming, studios, and linear networks. Its streaming division includes HBO Max, which continues to expand internationally while maintaining a strong presence in the U.S. The studios segment features leading film and television operations that produce movies and TV series monetized through theatrical releases, third-party sales, and distribution across Warner Bros. Discovery’s own platforms. Its global networks portfolio includes major cable brands such as CNN, TNT, TBS, Discovery, HGTV, and Food Network, while the Discovery+ streaming service remains within the global networks segment.