HBO is one of the most iconic names in television. Known for groundbreaking shows and premium entertainment, people often ask: who owns HBO today?
The answer involves a large media conglomerate with a history of mergers and major acquisitions. Here’s everything you need to know.
History of HBO
HBO (Home Box Office) launched on November 8, 1972. It was the first premium cable television network in the United States. Its original model focused on airing movies and live sports without commercials. HBO made history in 1975 by becoming the first television service to deliver programming via satellite.
By the 1980s, it had evolved into a household name, offering a mix of original programming, blockbuster films, and specials. Hits like The Sopranos, Sex and the City, and The Wire helped HBO redefine cable television.
Over the years, HBO became part of Time Inc., then merged into Time Warner. In 2018, telecom giant AT&T acquired Time Warner and renamed it WarnerMedia. But the changes didn’t stop there. In 2022, WarnerMedia merged with Discovery Inc., forming a new media company.
Who Owns HBO?
HBO is owned by Warner Bros. Discovery, Inc., a global media and entertainment company. HBO is not an independent company; it operates as a division under the larger Warner Bros. Discovery umbrella. This parent company was created through a major media merger in 2022 and now controls all HBO-branded channels and streaming services.
Parent Company: Warner Bros. Discovery
Warner Bros. Discovery is the direct parent company of HBO. It was formed on April 8, 2022, following the merger between WarnerMedia (previously owned by AT&T) and Discovery, Inc. The goal of the merger was to combine WarnerMedia’s premium content (like HBO, Warner Bros. Pictures, and CNN) with Discovery’s unscripted content (like the Discovery Channel, HGTV, and Animal Planet).
Warner Bros. Discovery is listed on the NASDAQ stock exchange under the ticker WBD. It now oversees HBO, HBO Max (now known as Max), Warner Bros. Pictures, CNN, Discovery+, and several other channels and streaming services.
Acquisition Insights: How HBO Ended Up with Warner Bros. Discovery
HBO’s path to its current owner involved multiple acquisitions and mergers over several decades:
1. Early Ownership (1972–1989): Time Inc.
- HBO was launched in 1972 by Time Inc. as the first premium cable television service.
- It started as a small cable channel offering uncut movies and sports.
2. Time Warner Merger (1990)
- In 1989, Time Inc. merged with Warner Communications, forming Time Warner.
- HBO became part of the Time Warner media group, which expanded its influence globally.
- During this era, HBO launched major original series and expanded internationally.
3. AT&T Acquisition (2018)
- In June 2018, telecom giant AT&T acquired Time Warner for $85 billion.
- After the acquisition, Time Warner was renamed WarnerMedia.
- HBO, as part of WarnerMedia, was positioned at the center of AT&T’s streaming strategy.
- AT&T launched HBO Max in 2020 as a direct-to-consumer streaming service.
4. Spinoff and Merger with Discovery Inc. (2022)
- In 2021, AT&T announced it would spin off WarnerMedia and merge it with Discovery Inc.
- The deal was structured as a Reverse Morris Trust, allowing AT&T shareholders to retain 71% of the new company.
- The merger was completed on April 8, 2022, creating Warner Bros. Discovery, Inc.
- The new company took ownership of all WarnerMedia properties, including HBO.
Ownership Breakdown: Who Controls Warner Bros. Discovery
Since Warner Bros. Discovery is a public company, its ownership is shared among institutional investors, individual shareholders, and insiders. Some key figures include:
- AT&T Shareholders: After the spinoff, AT&T shareholders received 71% of the new company’s shares.
- Discovery Shareholders: Discovery shareholders (including founder John Malone) received the remaining 29%.
- Institutional Investors: Major shareholders now include Vanguard Group, BlackRock, and State Street, each owning 5–8% of the company.
- John Malone: Though his actual equity stake is small, Malone holds Class B super-voting shares, giving him disproportionate influence.
- David Zaslav: As CEO, Zaslav has significant control over strategic decisions, though he owns only a small portion of equity.
Governance and Control
HBO does not make high-level decisions independently. Strategic decisions about its content, streaming platform, and global expansion are made by Warner Bros. Discovery executives.
- The CEO of Warner Bros. Discovery, David Zaslav, oversees the entire company.
- Content decisions for HBO are handled by Casey Bloys, Chairman and CEO of HBO and Max Content.
- HBO’s budget, growth plans, and strategic direction are tied to Warner Bros. Discovery’s overall goals.
HBO’s Place in the Corporate Structure
HBO is categorized as part of the Studios and Networks segment within Warner Bros. Discovery. This segment includes:
- HBO and Max
- Warner Bros. Pictures
- CNN
- TNT, TBS, and TruTV
- Cartoon Network and Adult Swim
HBO is one of the company’s most prestigious brands, known for high production values and award-winning series. Warner Bros. Discovery has used the HBO brand to attract premium subscribers worldwide.
Who is the CEO of HBO?
As of 2025, David Zaslav serves as the President and Chief Executive Officer (CEO) of Warner Bros. Discovery, the parent company of HBO. He has held this position since the company’s formation in April 2022, following the merger of WarnerMedia and Discovery Inc.
Background and Career
David Zaslav was born in 1960 in New York City. He earned a Bachelor of Science degree from Binghamton University and a Juris Doctor from Boston University School of Law in 1985. Before joining Discovery, he had a distinguished career at NBCUniversal, where he was instrumental in developing and launching CNBC and also played a role in the creation of MSNBC.
In 2007, Zaslav became CEO of Discovery Communications. Under his leadership, Discovery expanded its global reach and launched several successful networks, including HGTV, Food Network, and TLC. He also oversaw the company’s pivot to direct-to-consumer streaming services, laying the groundwork for discovery+.
Leadership at Warner Bros. Discovery
Since taking the helm at Warner Bros. Discovery, Zaslav has been responsible for setting the company’s strategic direction and overseeing its global operations. His portfolio includes a diverse array of brands such as Warner Bros. Pictures, Warner Bros. Television Group, HBO and Max, CNN, TNT Sports, HGTV, Food Network, and more.
One of Zaslav’s significant initiatives has been the restructuring of the company’s business units. In December 2024, Warner Bros. Discovery announced plans to split its television networks and streaming, and studios businesses into two separate units. This move aims to boost profitability and growth, with the restructuring expected to be completed by mid-2025.
Compensation and Recognition
In 2023, Zaslav’s total compensation from Warner Bros. Discovery was reported to be $49.7 million. This figure includes an annual salary of $3 million, an annual bonus of $22 million, and stock options valued at $190 million. His compensation package reflects his pivotal role in steering the company through significant industry changes.
Zaslav’s leadership has been recognized with several accolades. He was inducted into the Cable Hall of Fame in 2017 and is a member of the Cable TV Pioneers Class of 2018. He has also received the Robert F. Kennedy Human Rights Ripple of Hope Award and the UJA-Federation of New York’s Steven J. Ross Humanitarian Award.
Role in HBO’s Operations
While HBO operates under the broader Warner Bros. Discovery umbrella, Zaslav’s strategic decisions significantly impact the network’s direction. He oversees the integration of HBO’s premium content with other company assets, ensuring a cohesive strategy across platforms. His emphasis on content quality and global expansion continues to shape HBO’s presence in the competitive media landscape.
Annual Revenue and Net Worth of HBO
HBO’s total revenue for 2025 is estimated at $9.8 billion, marking a 6.5% increase from the previous year’s $9.2 billion. This growth is attributed to increased subscriptions and strategic partnerships
A substantial portion of this revenue stems from HBO Max, the company’s streaming platform. In 2023, HBO Max generated $7.7 billion, with approximately $449 million from in-app subscriptions on iOS and Android devices.
HBO’s Net Worth in 2025
HBO’s estimated net worth in 2025 stands at $20 billion, reflecting its extensive influence and success in both streaming and cable television markets. This valuation underscores HBO’s ability to adapt and thrive amidst the shifting dynamics of media consumption.
The company’s diverse revenue streams, including subscription fees, licensing deals, and advertising, contribute to its robust financial standing. Strategic partnerships and a strong content lineup further bolster its market position.
Here’s an overview of HBO’s annual revenue and net worth for the last 10 years:
| Year | Revenue (USD Billion) | Net Worth (USD Billion) |
|---|---|---|
| 2015 | $5.6 | $10.0 |
| 2016 | $6.3 | $11.0 |
| 2017 | $6.3 | $12.0 |
| 2018 | $6.7 | $13.0 |
| 2019 | $6.8 | $14.0 |
| 2020 | $6.1 | $10.0 |
| 2021 | $7.7 | $12.0 |
| 2022 | $7.3 | $15.0 |
| 2023 | $7.7 | $17.0 |
| 2024 | $8.1 | $18.0 |
| 2025 | $9.8 | $20.0 |
Brands Owned by HBO
As of 2025, HBO operates as a premier brand within Warner Bros. Discovery (WBD), encompassing a diverse portfolio of channels, streaming services, and production units. These entities collectively contribute to HBO’s reputation for delivering high-quality, award-winning content across various platforms.
Below is an overview of the major brands owned by HBO:
| Company/Brand | Type | Description | Function/Focus Area |
|---|---|---|---|
| HBO | Linear TV Channel | The flagship channel offering original series, films, and specials. | Premium original content and movies |
| HBO Max (now HBO Max again) | Streaming Service | HBO’s flagship streaming platform, rebranded back from “Max” in 2025. | Streaming HBO content, Warner Bros. films, Max Originals |
| HBO2 | Linear TV Channel | Secondary channel featuring HBO content and repeats. | Extended scheduling of HBO programming |
| HBO Comedy | Linear TV Channel | Focused on comedy series and films. | Comedy content |
| HBO Family | Linear TV Channel | Offers family-friendly programming and animated series. | Children and family entertainment |
| HBO Signature | Linear TV Channel | Highlights prestige series and acclaimed content. | High-quality, dramatic storytelling |
| HBO Zone | Linear TV Channel | Caters to a younger, edgier demographic. | Youth and young adult content |
| HBO Latino | Linear TV Channel | Spanish-language HBO content and Latin American productions. | Hispanic audience and Spanish-language programming |
| Cinemax | Premium Channel | Companion brand to HBO, focusing on action and genre content. | Action, thriller, and genre films |
| MoreMax | Cinemax Sub-channel | Offers a range of recent hits and classic films. | General entertainment |
| ActionMax | Cinemax Sub-channel | Specializes in action films. | Action genre |
| ThrillerMax | Cinemax Sub-channel | Focuses on suspense and thriller content. | Thriller and suspense genres |
| 5StarMax | Cinemax Sub-channel | Curated content with high ratings and awards. | Critically acclaimed films |
| MovieMax | Cinemax Sub-channel | General movies and mainstream content. | Broad movie programming |
| OuterMax | Cinemax Sub-channel | Science fiction and fantasy films. | Sci-fi and niche genres |
| HBO Films | Production Division | Produces original made-for-TV movies. | Original HBO feature-length films |
| HBO Documentary Films | Production Division | Produces documentaries and docuseries for HBO. | Non-fiction and documentary storytelling |
| HBO Studios | In-house Studio | Internal production unit for HBO Original Series. | Produces flagship series and content |
| HBO Europe | Regional Subsidiary | Delivers localized HBO content across European countries. | Localized European programming |
| HBO Asia | Regional Subsidiary | Serves HBO content in various Asian markets. | Regional adaptations and distribution in Asia |
| HBO Latin America | Regional Subsidiary | Offers HBO content to Latin America, with dubbing and subtitles. | Distribution in Latin American markets |
| Hoorae Media (partnered) | Partner Studio | Production company by Issa Rae with an exclusive HBO deal. | Diverse and inclusive storytelling |
HBO Max
HBO Max is HBO’s flagship streaming service, offering a vast library that includes HBO Originals, Warner Bros. films, Max Originals, and content from brands like DC, CNN, and Discovery. Initially launched in 2020, the platform underwent a rebranding to “Max” in 2023. However, in 2025, WBD announced a return to the “HBO Max” branding to leverage the strong recognition and prestige associated with the HBO name.
HBO Channels
HBO operates several linear and digital channels catering to diverse audiences:
- HBO: The primary channel featuring original series, films, and specials.
- HBO2: Offers a variety of HBO content, including original programming and movies.
- HBO Comedy: Focuses on comedic films and series.
- HBO Family: Provides family-friendly movies and series.
- HBO Signature: Showcases high-quality, critically acclaimed content.
- HBO Zone: Targets young adult audiences with edgy programming.
- HBO Latino: Features Spanish-language content, including original series and movies.
Cinemax
Cinemax is a sister network to HBO, known for its selection of action films, thrillers, and original series. It includes several multiplex channels:
- MoreMax: Offers a mix of recent hits and classic films.
- ActionMax: Specializes in action-packed movies.
- ThrillerMax: Focuses on suspense and thriller genres.
- 5StarMax, MovieMax, OuterMax: Each channel caters to specific genres and audience preferences.
HBO Films
HBO Films is the network’s production division responsible for creating original made-for-television movies. It has produced numerous critically acclaimed films that have garnered awards and recognition.
HBO Documentary Films
HBO Documentary Films produces non-fiction programming, including documentaries and docuseries that cover a wide range of topics, from social issues to biographies, often earning critical acclaim and industry awards.
International HBO Services
HBO has established a global presence with regional services tailored to local markets:
- HBO Europe: Operates in several European countries, offering localized content alongside HBO Originals.
- HBO Asia: Provides HBO content across Asian markets, with adaptations to suit regional audiences.
- HBO Latin America: Delivers HBO programming throughout Latin American countries, including localized versions of channels.
These international branches ensure HBO’s content reaches a global audience, maintaining brand consistency while catering to regional preferences.
HBO Studios
HBO Studios is the in-house production arm responsible for developing and producing HBO’s original series and specials. It collaborates with various creators and production companies to deliver high-quality content that aligns with HBO’s brand standards.
Hoorae Media (Partnership)
Hoorae Media, founded by Issa Rae, entered into a partnership with HBO, granting the network exclusive television rights to Hoorae’s projects. This collaboration has resulted in a successful series that resonates with diverse audiences.
Final Words
So, who owns HBO?
The answer is Warner Bros. Discovery, a major force in global media. Through decades of mergers and evolution, HBO has transformed from a cable pioneer to a digital streaming powerhouse. With David Zaslav at the helm, the network continues to deliver high-quality entertainment under a vast media empire.
FAQs
Is HBO now owned by Disney?
No, HBO is not owned by Disney. HBO is owned by Warner Bros. Discovery, a completely separate media company. Disney owns streaming platforms like Disney+, Hulu, and ESPN+, while HBO is part of Warner Bros. Discovery’s media portfolio.
Who owns the Warner Brothers?
Warner Bros. is owned by Warner Bros. Discovery (WBD). WBD was formed in 2022 following the merger of WarnerMedia and Discovery, Inc. The company is publicly traded on the NASDAQ under the ticker symbol WBD.
Is HBO included with Disney+?
No, HBO is not included with Disney+. HBO content is available exclusively through HBO channels and HBO Max (now branded again as HBO Max in 2025). Disney+ offers its own separate content library.
Who previously owned HBO?
HBO was previously owned by WarnerMedia, which was a subsidiary of AT&T. Before that, HBO was part of Time Warner. In 2022, WarnerMedia merged with Discovery, Inc., forming Warner Bros. Discovery, the current parent company.
Which country owns HBO?
HBO is owned by Warner Bros. Discovery, an American multinational company headquartered in New York City, United States. It is a publicly traded U.S. corporation.
Who owns HBO Max?
HBO Max is owned and operated by Warner Bros. Discovery. It is the primary streaming platform under the HBO brand, combining content from HBO, Warner Bros., and Discovery properties.
When did Warner Bros. buy HBO?
Technically, Warner Bros. did not “buy” HBO. HBO was part of Time Warner, which owned Warner Bros. as well. In 1990, Time Warner was formed by merging Time Inc. and Warner Communications, bringing HBO and Warner Bros. under one corporate umbrella. In 2022, WarnerMedia (which included HBO) merged with Discovery, Inc., creating Warner Bros. Discovery.
What was HBO’s first series?
HBO’s first original series was Inside the NFL, which debuted in 1977. However, its first original drama series was The Terry Fox Story (1983), followed by the launch of series like Tales from the Crypt and Dream On in the late 1980s and early 1990s.
Who owns HBO stock?
HBO itself is not a publicly traded company. It is owned by Warner Bros. Discovery, which is listed on NASDAQ under the ticker symbol WBD. Shareholders of WBD indirectly own a stake in HBO through their investment in the parent company.
What company owns HBO?
HBO is owned by Warner Bros. Discovery. The company was formed in 2022 after the merger between WarnerMedia and Discovery, Inc. HBO operates under the WBD umbrella along with other brands like CNN, Warner Bros. Pictures, and Discovery Channel.
Who owns HBO and Showtime?
HBO is owned by Warner Bros. Discovery. Showtime, on the other hand, is owned by Paramount Global (formerly ViacomCBS). They are separate companies and compete in the premium television and streaming markets.
What does HBO stand for?
HBO stands for Home Box Office.
What happened to HBO Max?
HBO Max was rebranded to Max in 2023 to reflect its broader content offering from both HBO and Discovery.
Does AT&T still own HBO?
No. AT&T spun off WarnerMedia, which included HBO, in a merger with Discovery. Now, Warner Bros. Discovery owns HBO.
Is HBO a standalone company?
No, HBO is a division of Warner Bros. Discovery and does not operate as an independent company anymore.