Key Highlights
- Discovery what WBD CEO David Zaslav had struggled to do for more than three years: dramatically boost the market value of the company that combined Discovery and Warner Bros.
- Shares of Warner Bros.
- Discovery, formed in April 2022, zoomed to all-time highs in 2025 — up more than 170% for the year.
- WBD as of Dec.
- 30 has a market capitalization of $71.8 billion, up from about $25 billion at the start of the year.



