Utilize the input text as a context reference, choose the right relationship between HBO and WarnerMedia from the options. Options: product/material produced, manufacturer, distributed by, industry, position held, original broadcaster, owned by, founded by, distribution format, headquarters location, stock exchange, currency, parent organization, chief executive officer, director/manager, owner of, operator, member of, employer, chairperson, platform, subsidiary, legal form, publisher, developer, brand, business division, location of formation, creator.

That allowed us to work together across WarnerMedia and all of AT&T to successfully launch HBO Max.

Answer: owned_by