operates Regal Cinemas). On June 1, 2022, Warner Bros. Discovery, the company formed out of the merger of WarnerMedia and Discovery, Inc., announced that Emmerich will step down as head of the Warner Bros. Pictures Group after a transition period, and that it would be divided into three separate units; Warner Bros. Pictures/New Line Cinema, DC Films, and Warner Animation Group. Former MGM executives Michael De Luca and Pamela Abdy would serve as the co-chairs of Warner Bros. Pictures (and temporarily oversee the other two divisions until new executives are hired for them), while Emmerich would start his own production company and enter into a five-year distribution and funding agreement with Warner Bros. Pictures. On June 8, COO Carolyn Blackwood announced that she was stepping down as well. Steve Spira returned as president of business affairs for Warner Bros. in June 2022, while De Luca and Abdy took over from Emmerich in July 2022. Former president Alan Horn was appointed as a consultant for Warner Bros. Discovery President David Zaslav, working with De Luca and Abdy. In August 2022, Warner Bros. Pictures entered into a multi-year deal for distributing MGM films outside the United States, including on home entertainment. The contract included joint participation of both companies for marketing, advertising, publicity, film distribution, and relationship with exhibitors for future MGM titles. Walter Hamada, the president of DC Films, stepped down on October 19, 2022. President of Production & Development Courtenay Valenti exited on October 28 and was replaced by Jesse Ehrman. Film library Acquired libraries Mergers and acquisitions have helped Warner Bros. accumulate a diverse collection of films, cartoons and television programs. As of 2022, Warner Bros. owned more than 145,000 hours of programming, including 12,500 feature films and 2,400 television programs comprising more than tens of thousands of individual episodes. In the aftermath of the 1948 antitrust suit, uncertain times led Warner Bros. in 1956 to sell most of its pre-1950 films and cartoons to Associated Artists Productions (a.a.p.). In addition, a.a.p. also obtained the Fleischer Studios and Famous Studios Popeye cartoons, originally from Paramount Pictures. Two years later, a.a.p. was sold to United Artists, which owned the company until 1981, when Metro-Goldwyn-Mayer acquired United Artists. In 1982, during their independent years, Turner Broadcasting System acquired Brut Productions, the film production arm of France-based then-struggling personal-care company Faberge Inc. In 1986, Turner Broadcasting System acquired Metro-Goldwyn-Mayer. Finding itself in