CNN is one of the largest cable news networks in the world. It reaches about 80 million households in the U.S., while its global reach is over 2 billion people in more than 200 countries. The company also has a large digital presence, with more than 150 million visitors to its sites each month.
When the Cable News Network (CNN) launched in 1980, it was a television pioneer. It was the first television channel to provide news coverage around the clock and the country's first all-news network. The network was one of many creations by Turner Broadcasting Systems, a television and media conglomerate founded by Ted Turner.
Today, CNN is one of the many media and entertainment brands owned by Warner Bros. Discovery (WBD +1.55%). Here's a look at how CNN became part of that media giant. We'll also examine its board of directors and show you how to invest money in the entertainment company's stock.
NASDAQ: WBD
Key Data Points
Who is the owner of CNN?
CNN has had several owners over the years. Turner Broadcasting System created the 24-hour all-news channel in 1980. In 1996, Turner Broadcasting System merged with Time Warner Entertainment, which already had a 20% stake in the company.
In early 2000, former internet giant AOL agreed to buy Time Warner in a $182 billion megadeal. The transaction combined Time Warner's old media (book, magazine, TV, and movie production capabilities) with AOL's online audience in one of the biggest media mergers of all time.
The AOL Time Warner deal would turn out to be a bust. A few years later, the company removed AOL from its name, and by 2009, it had spun off the fledgling internet site.
AT&T (T -1.23%) would acquire Time Warner in 2018 to bring its premium content to the telecom giant's leading pay-TV subscriber base. However, like the AOL Time Warner merger, this deal didn't create the value its architects anticipated. In 2022, AT&T agreed to combine WarnerMedia with Discovery. It spun off that combined company to shareholders following the merger, which created Warner Bros. Discovery.
Today, CNN is part of Warner Bros. Discovery. The leading global media and entertainment company has a portfolio of content brands across TV, film, and streaming. Its iconic brands include Discovery Channel, CNN, HBO, HGTV, OWN, TBS, and DC.
Shareholder
Institutional investors own most of the media conglomerate's outstanding shares. These were Warner Bros. Discovery's five largest shareholders in mid-2024:
- The Vanguard Group: The leading client-owned investment manager owned 244.5 million shares of Warner Bros. Discovery (10% of its outstanding shares) worth more than $2.1 billion. It held these shares in funds managed for clients, including the Vanguard Total Stock Market Index Fund (NASDAQMUTFUND:VTSM.X), the Vanguard 500 Index Fund (NASDAQMUTFUND:VFIA.X), and the Vanguard Mid-Cap Index Fund (VPMCX +1.16%). They were three of the media company's four largest mutual fund holders.
- Newhouse Broadcasting Corporation (Advance Publications): The privately held American media company was a major shareholder of Discovery before its merger with AT&T's WarnerMedia unit. The company received an 8.1% interest in the combined company. Its 198.2 million shares are worth more than $1.7 billion.
- State Street (STT -0.39%): The global financial services and bank holding company held 145.9 million shares (6%) worth almost $1.3 billion. The company manages the SPDR exchange-traded fund (ETF) series. The Communications Services Select Sector SPDR Fund (XLC -0.30%) was the second-largest fund holder of the media company's stock, while SPDR S&P 500 ETF (SPY -0.54%) was also in the top 10.
- BlackRock (BLK +0.18%): The leading global asset manager held 109 million shares (4.5%) worth about $951 million. The company manages the popular iShares ETF series, including iShares Core S&P 500 ETF (IVV -0.50%), a top-10 holder of Warner Bros. Discovery stock.
- Harris Associates: The private investment management firm held 104 million shares (4.2%) worth almost $908 million. The fund manages the Oakmark Fund (NASDAQMUTFUND:OAKM.X) and Oakmark Select Fund (NASDAQMUTFUND:OAYL.X), which were among Warner Bros. Discovery's 10 largest mutual fund holders.
Who is on the board of directors for CNN?
While CNN is a separate brand within Warner Bros. Discovery with its own management team, it doesn't have a distinct board of directors.
Board of Directors
Warner Bros. Discovery's board of directors oversees CNN and its other media and entertainment brands. The company's diverse board consisted of:
- Samuel A. Di Piazza, Jr. has been chair since the combination of AT&T's WarnerMedia business with Discovery in 2022. He previously served as the global CEO of Pricewaterhouse Coopers. Di Piazza also served on AT&T's board from 2015 until 2022. He owned about 24,500 shares of Warner Bros. Discovery.
- David Zaslav is the president and CEO of Warner Bros. Discovery and has been a board member since the company's formation in 2022. He had previously served as the CEO of Discovery, a position he held since 2006. Zaslav also held several roles at NBCUniversal, where he helped create CNN rival MSNBC and financial news network CNBC. He owned 19.8 million shares at the end of 2023.
- Li Haslett Chen has been on the board since 2022. She's the founder and CEO of Howl, a technology platform focused on social commerce. She held roughly 16,350 shares in the company.
- Richard W. Fisher has been on the board since 2022. He has been a senior advisor to Barclays (BCS +5.29%) since 2014. Before that, Fisher was the president and CEO of the Federal Reserve Bank of Dallas for a decade. He owned about 18,750 shares of Warner Bros. Discovery.
- Paul A. Gould has been a director since 2008. He has served at investment bank Allen & Company since 1972. He held almost 717,200 shares of the media company.
- Debra L. Lee has been on the board since 2022. She's currently the chair of a non-profit organization she founded in 2009. Lee also previously served as the CEO of BET Networks. She owned about 16,350 shares of Warner Bros. Discovery.
- Kenneth W. Lowe has been on the board since 2023. He served as the chair and CEO of Scripps Network Interactive until its sale to Discovery in 2018. He owned almost 1.1 million shares.
- John C. Malone has been a director since 2008. He's the chair for Liberty Media Corporation (NASDAQ:LSXMA), Liberty Broadband Corporation (LBRDK -1.00%), and Liberty Global (LBTYK +0.22%). He held almost 19.1 million shares of Warner Bros. Discovery.
- Fazal Merchant has been on the board since 2022. He was the co-CEO of cybersecurity company Tanium before his retirement in 2020. He owned about 51,100 shares of the media company.
- Paula A. Price has been on the board since 2022. She previously served as the CEO of Macy's (M +1.89%). She didn't own any Warner Bros. Discovery stock.
- Geoffrey Y. Yang has been on the board since 2022. He's the founding partner of global private equity and venture capital firm Redpoint Ventures. He held about 149,350 shares of the media giant.
Related investing topics
How to invest in CNN
CNN isn't a publicly traded company. So, you can't invest directly in the news network.
However, its parent, Warner Bros. Discovery, is a publicly traded company. The global media and entertainment company trades publicly on the Nasdaq Stock Exchange under the ticker WBD. Because of that, anyone with a brokerage account can invest in its stock.
It's easy to open a brokerage account if you don't already have one. Here's a list of the top-rated brokerage and stock trading accounts. Make sure you research the brokers to find the best one for you.
Opening and funding a brokerage account is the first step to investing in stocks. Additional steps you'll need to take include:
- Figure out your budget: You'll want to decide how much you want to invest in Warner Bros. Discovery. The Motley Fool investing philosophy recommends building a diversified portfolio with at least 25 stocks. So, if you have $10,000 you want to invest, you'd allocate about $400 equally across 25 stocks, including Warner Bros. Discovery. However, you can start small, initially aiming to own at least 10 stocks.
- Do your research: It's imperative to thoroughly research a company before you buy shares. You should check out its competitors, learn about its balance sheet, and investigate its profitability. You need to ensure any investment aligns with your risk tolerance, values, and return objectives.
- Fill out your order page: When you're ready to buy shares, you'll open the order page at your brokerage account and fill out all the relevant information, including:
- The number of shares you want to buy (or the amount you want to invest in fractional shares).
- The correct stock ticker (WBD for Warner Bros. Discovery).
- The order type (market or limit order).
You should double-check your order page before submitting your trade. When you're ready, click submit to become a shareholder of CNN's parent.
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