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Warner Bros. Discovery (WBD) operates a content-driven strategy focused on maximizing intellectual property (IP) value through a multi-platform approach, including streaming (Max), theatrical, and television, aimed at reaching 150 million global subscribers by 2026. CEO David Zaslav focuses on aggressive cost-cutting, debt reduction, and leveraging franchises like DC, Harry Potter, and gaming to drive revenue, while adapting to changing viewer demands through both linear and digital channels.