We currently are holding a limited-time sale with 10% off your first year! With the 5G transition in full swing, the company can't afford to be distracted with the streaming media wars, paying down debt, and maintaining the dividend all at once. Maximize your income with the worlds highest-quality dividend investments. An SEC filing last March, just prior to the merger, revealed that Discovery forecasts revenue from its U.S. linear TV business will decline by 4% per annum through AT&T announced last week that April 5th at market close will be the record date for AT&T shareholders eligible for the special stock dividend pertaining to the upcoming WBD transaction. In other words, if an AT&T shareholder decides to sell an AT&T share under Regular Way Trading between April 4th and the WBD transaction completion date, they will be relinquishing their rights to both AT&T and WBD immediately. With over 40 individual picks yielding +7%, you can supercharge your retirement portfolio right away. Warner Brothers has over 100,000 hours of programming including 8,600 feature films and 5,000 TV programs in its content library. The Motley Fool recommends Discovery (C shares). And as I'm looking under the hood here again, CNN+ is just one example, and I don't want to go through sort of a list of specific examples, but there's a lot of chunky investments that are lacking what I would view as a solid analytical, financial foundation and meeting the ROI hurdles that I would like to see for major investments. All articles are my personal perspective on a given prospective investment and should not be considered as investment advice. We will not launch any new markets for the time being. Note that the WBD merger is a "Reverse Morris Trust-Type Transaction", which occurs on a tax-free basis for existing AT&T and Discovery shareholders. to create Warner Bros. Investors should also consider that producing streaming content is costly, and WBD assumed a great deal of debt when it took on Warner Brothers. The service will allow you to follow my model portfolio, interact with me directly, and participate in chat rooms with other subscribers. Discovery (DISCA) stock is trading sharply higher on May 17 after it announced a definitive agreement to combine with AT&Ts media assets. Now that the close of the WarnerMedia deal is approaching, we are near the starting line of a new era for AT&T, said Stankey on Friday. One of the analysts rates WBD as a sell. Discovery's Stock, 2 Growth Stocks That Can Turn $250,000 Into $1 Million by 2030, Billionaire Investor Bill Ackman Is Raking In $97 Million In Annual Dividend Income From These 2 Stocks, 1 Bargain-Basement Warren Buffett Stock Down 78% to Buy Before It Starts Soaring, 3 No-Brainer Stocks to Buy With $50 Right Now, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Motley Fool Issues Rare All In Buy Alert, Copyright, Trademark and Patent Information. Now, after the merger is complete, we should look at the financials of the merged entity. Telecom giant AT&T chose to spin off, rather than split off, WarnerMedia in a key step of the entertainment units merger with Discovery to avoid having to really discount the merged Warner Bros. Discoverys stock, AT&T CFO Pascal Desroches told investors Monday. Discovery (NASDAQ:WBD) has slipped over 20%, Comcast (CMCSA) is down about 18%, shares of Disney (DIS) and Amazon (AMZN) have both fallen around 25%, and Netflix (NFLX) takes the proverbial cake, with a stock price that plummeted over 65%. Prior to WBDs quarterly report announcement, Barrons reported that analysts at Goldman Sachs reinstated a buy rating and price target of $22 on Warner Bros. I am a retired law enforcement officer. Erik Khalitov/iStock Unreleased via Getty Images. Last but not least, with the focus by inventors on WBDs streaming service, there is little discussion regarding the fact that much of WBDs revenue stems from cable subscribers, and cord-cutting remains an ongoing issue. The forward P/E for the company is 8.68x, and the 5-year PEG is 0.43x. The estimated transaction value takes into consideration the closing price of $25.37 per share for Discovery Series A common stock as of March 9th, multiplied by The AT&T merger came in 2018, and was presented as a strategic partnership, since the media landscape is moving hard into streaming, and AT&T owns a major wireless network. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Let the power of quality research drive your investment convictions. Another massive streaming giant round the corner? Latest Technology & Communications News and Updates. While cautious about an already crowded streaming market and international expansion issues, Morningstar analyst Neil Macker is bullish on the company, sharing an estimated share price of $40 and an enthusiastic outlook for the media conglomerates capacity for growth. The spinoff and dividend cut is probably the right long-term move for AT&T, as it will offload some $43 billion in debt to the new WarnerMedia company. Due diligence should be exercised and readers should engage in additional research and analysis before making their own investment decision. Now, the record date is not the same as the transaction completion date. Invest better with The Motley Fool. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Asked about the risk of future dividend cuts, Desroches said that the dividend is not only safe, but its size gives the company financial flexibility. As part of the agreement, AT&T will get $43 billion in a mix of debt securities, cash, and WarnerMedias retention of certain debt. The new management is trying hard to turn around the ship. Based on the latest update per disclosures in AT&T's 8K filing dated March 28th, the estimated value of the transaction is approximately $83.4 billion. Discovery. If so, how? Warner Bros. What's been going on and is now the time to sell out of the stock? I have approximately 20 years experience as a retail investor. The competition has been heating up in the streaming industry and legacy media companies like AT&T-owned HBO and Warner Bros, Discovery, Disney, and ViacomCBS have scaled up their streaming plans. The strongest case for WBD is the massive supply of content associated with WarnerMedia. Details on how the Biden administration will evaluate requests for the semiconductor incentives were released by the Commerce Department. -0.30% Discovery has over 15 million paying streaming subscribers globally, while HBO and HBO Max reportedly have 64 million subscribers globally. Discovery's outlook for the year. Copyright 2023 ComicBook.com. Zaslav, in the companys earnings release, said that major restructuring decisions were behind us. However, Warner Bros. In a research note to investors, Feldman said that the merged Warner Bros. Making the world smarter, happier, and richer. Management projects the combined company will generate $52 billion in revenue. Discovery, will start Learn More. Under the terms of the deal, WarnerMedia retained $43 billion in debt. The combination of issued Spinco Debt Securities and cash proceeds from Spinco Financing Agreements provided to AT&T as part of transaction step #2 must total $43 billion, which represents the total consideration paid by Spinco to AT&T in exchange for its equity interests in the assets and liabilities of WarnerMedia (i.e. Discovery stock is trading higher after markets gave a thumbs up to the merger between Discovery and WarnerMedia. Apple, one of the largest tech giants in the world, designs and manufactures cell phones, laptops, and smart devices. The Motley Fool owns shares of and recommends Netflix. At the end of 2021, the pro forma debt for WBD was over $56 billion. totaling approximately $42 billion received from a combination of bridge loans, term loan credit agreements, note issuances, and revolving credit agreements obtained or completed through commitments with JPMorgan Chase Bank, Goldman Sachs Bank, Goldman Sachs Lending Partners LLC, and "certain other financial institutions". The new company will be able to compete in the streaming industry. You can click on the 'unsubscribe' link in the email at anytime. WBD, While streaming would bring long-term growth, it also means more investment into content creation. One is a relatively high rate of churn. are met. The company posted FCF of $238 million, and operating expenses decreased 8% to $907 million. Discovery was word that DC could be restructured. Lawrence Nga has no position in any of the stocks mentioned. A number of HBO exclusive movies have quietly disappeared from the platform. I am a graduate of the U.S Army Ranger school and a former member of the 1st Ranger Battalion and The Old Guard (U.S Army Honor Guard.) Upon closing, Magallane, Inc. Spinco will merge with "Drake Subsidiary, Inc.", the wholly owned "merger subsidiary" of Discovery's to create WBD. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). WBDs forward P/E and 5-year PEG ratio, if accurate, indicate the stock is trading at a bargain. Upon completion of the transaction, AT&T shareholders will, together, own 71% equity interest in WBD, with Discovery shareholders owning the remainder 29%. we also think that one of the big opportunities here is going to be churn reduction. Please note that I am in the process of planning a subscription service with Seeking Alpha's Marketplace. On a GAAP basis, analysts polled by FactSet expected Warner Bros. The streaming media and telecom worlds were shaken Monday, when AT&T (T -0.63%) announced it would be spinning off its WarnerMedia division and combining it with Discovery (DISCA) (DISCK). AT&T) wishing to divest a subsidiary (i.e. Discovery may need to fund losses for many years to build a sizable customer base. With the steady hand of Zaslav now in command of more world-class media assets he can now deploy internationally, Discovery has gone from a small unscripted player to a scaled global behemoth across scripted, unscripted, and news content. He recently completed a technical communication diploma and holds previous university degrees in journalism, sociology and criminology. A merger rarely goes without hiccups, so while the dip in Warner Bros. Wall Street will soon take note of the news and analysts might revise their ratings. That brings the companys net debt to around 4.5x EBITDA. Discovery have tumbled 45.2% over the past 12 months. Last week, AT&T confirmed April 5th at market close as the record date for the stock dividend related to the WarnerMedia spinoff. AT&Ts WarnerMedia unit and Discovery Inc said on Friday that the two firms have completed the merger. The new entity will focus on streaming services. There is currently no definitive answer to when the WBD merger will close or what its post-close value will be. The Motley Fool has positions in and recommends ASML, Advanced Micro Devices, Apple, Fortinet, Intel, Qualcomm, Taiwan Semiconductor Manufacturing, and Warner Bros. Discovery stock at a time when those shares dont fully reflect the value that we see long-term for the combined company.. Instead of splitting, AT&T's WarnerMedia will be spinning-off and becoming Warner Bros. What the Smartest Investors Know About Warner Bros. -2.01% I also have concerns regarding the toll cord cutting may take on the companys future results. 111). on companies with competitive advantages and strong balance sheets. Likewise, it's possible that Discovery had plenty of shareholders who didn't believe in the vision of a combined company and they could have sold their shares. Now consider that the portfolio of Discovery+ will be added to that of HBOMax, and you have the makings of a content king. Revenue came in at $11 billion, compared with $3.19 billion in the prior-year quarter. Here is a stat that might surprise many readers: every stock listed above has underperformed the S&P 500 over the last three years by a wide margin. Among the reports that came out of the first week of Warner Bros. Zaslav hasnt been shy in making changes that align with the Warner Bros. Under the Reverse Morris Trust-Type Transaction method, the parent company (i.e. In an effort to shore up the bottom line, the company has cut jobs and content including CNN+ and a Batgirl film set for HBO Max. Discovery shareholders would own 29 percent of the new entity, while AT&T shareholders would hold a 71 percent stake in the new company. ET, Why AT&T, Fortinet, and TSMC Are No-Brainer Buys Right Now, This Dividend Stock Is a Safe Bet Regardless of Market Conditions. Discovery to report a loss of 35 cents a share, on revenue of $11.2 billion. SPX, The resultant company, Warner Bros. In our last coverage on the upcoming WBD transaction and its implications for AT&T post-close, we had provided a detailed estimate on WBD's upside potential attributable to AT&T shareholders post-close. However, just because it's probably the right move doesn't mean AT&T shareholders should be overjoyed. Poorer than expected performance of late from WarnerMedia was also highlighted. The thinly traded shares (ticker: DISCB) that are 95% owned by media mogul and Discovery board member John Malone traded Tuesday at $68.88, down $1.02. The new streaming behemoth will have a huge library of 200,000-plus hours of content, from Warner Bros. Studios, HBO and MBO Max, The Turner channels (TNT, TBS, CNN), as well as Discovery's comprehensive portfolio of unscripted content. A merger rarely goes without hiccups, so while the dip in Warner Bros. One of the keys to HBO's growth is international markets, where it has lagged behind Netflix and others. As discussed in detail in our last coverage, AT&T will spinoff 100% of its current interest in WarnerMedia post-close. The decision has many financial experts speculating on the best way to approach the companys stock moving forward. HBO Max and Discovery Plus will be merged into a single digital platform under Warner Bros. Desroches mentioned that Discovery currently has 700 million shares outstanding, while 1.7 billion new shares will come to market as part of the transaction. Discovery (WBD) CEO David Zaslav announced plans to combine HBO Max and Discovery+ into one streaming service. Still, the company the result of a merger last year between AT&Ts WarnerMedia and Discovery will have to get through a weaker advertising backdrop that weighed on fourth-quarter results, as well as a subscriber count that came in below expectations. Making the world smarter, happier, and richer. AT&T and Discovery sound optimistic about the new company's outlook. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Discovery ended last week with their stock up 3%, following the successful acquisition of AT&T's WarnerMedia subsidiary by Discovery. Under the terms of the deal, which is structured as an all-stock transaction, AT&T would receive $43 billion in cash and debt with its shareholders controlling 71% of Of course, the numbers behind the earnings report pertain to the former Discovery, Inc; however, management provided some important metrics related to WarnerMedia, as well as some relevant commentary. Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. Discovery planned to keep Discovery+ as a standalone streaming platform, as the company weighs how to make more of its content available in a single place. Read More About: AT&T Discovery strategic shift. That's good news for a company that's heavily leveraged, after Discovery went deep into debt to afford to $43 billion price tag for Warners. Additional disclosure: I have no formal training in investing. The potential synergies and economies of scale looked to position the combined company well to compete in the media and entertainment industry. That same study revealed that when questioned regarding their level of satisfaction among SVOD services, HBOMax received the highest score. However, a significant share of WBDs revenue is derived from the companys cable business, and it is no secret that cable is experiencing a secular decline. Cost basis and return based on previous market day close. Shop Pay is an innovative payment solution developed by Shopify. This might explain the initial fall in Warner Bros. Chief Financial Officer Gunnar Wiedenfels, during Warner Bros. Discoverys The Coke vs. Pepsi debate doesn't just apply to the supermarket the brands are also rivals in the stock market. Step 2 Issuance of Spinco Debt Securities - Prior to AT&T's distribution of rights to shares of WBD common stock to existing AT&T shareholders as of record date and the final merger completion, the Magallanes, Inc. Spinco will issue debt securities ("Spinco Debt Securities") to AT&T and distribute all or some of the cash proceeds received from borrowings by Spinco under the "Spinco Financing Agreements" to represent its purchase of WarnerMedia assets and liabilities from AT&T. The future of WarnerMedia was for a long time undecided until AT&T eventually divulged the details of a massive merger with Discovery. Please try again later. Billy Duberstein owns shares of AT&T, Discovery (C shares), and Netflix. AT&T Ex-Distribution Trading - AT&T shareholders can engage in "Ex-Distribution Trading" during the two-way trading period if they wish to only sell their right to AT&T RemainCo and retain their stock dividend pertaining to the WBD transaction. Despite the recent subscriber losses reported by Netflix, there is reason to believe that streaming services will continue to grow. Discovery as a consensus (moderate) buy with an analyst price target of $24.79. I am not receiving compensation for it (other than from Seeking Alpha). Discovery has faced more cautious advertisers, ongoing cord-cutting, competition within streaming and upheaval created from the merger deal itself. Discovery's share price when the new company began trading earlier this year. WBD currently trades for $18.88 a share. That compares to $140 million in net income and EPS of $0.21 in the comparable quarter. If you Jakub Porzycki / NurPhoto / Shutterstock.com. Based on 14 ratings, nine analysts had WBD stock as a moderate buy, five rated it as a hold, and only one appraiser had the company as a sell. 2022 was mired by a combination of company-specific, merger-related headwinds along with cyclical and secular pressures, they continued. I wrote this article myself, and it expresses my own opinions. All Rights Reserved. Revenue from U.S. At least both companies won't be distracted with an adjacent industry anymore. The management team has plenty of experience executing mergers. Management also emphasized that the company will take a circumspect approach to content spend. In the process of merging AT&T at 71% and We will be a simpler, more focused company with the intent to become Americas best broadband provider.. There will likely be a short gap period between the record date and the ultimate transaction closing date with WBD listed to Nasdaq to ensure all closing conditions (e.g. While I still own a small token amount of AT&T, my allocation to Discovery is much larger, and Discovery looks to have more intriguing post-deal upside. Subscribe for full access to The Hollywood Reporter. net asset value under U.S. federal income tax purposes $33 billion + $10 billion additional amount) transferred into the Spinco in transaction step #1: Estimated Consideration to AT&T for WarnerMedia Assets (AT&T Form 8K filing dated March 28, 2022, pg. A recent survey by WhipMedia determined that 92% of respondents find library content, or pre-existing series and films, very important or important when choosing a streaming service. Bolstered by strong international results, WBD increased total revenue by 13% to $3.16 billion. Get advice on achieving your financial goals and stay up to date on the day's top financial stories. Ex-Distribution Trading will take place under the temporary NYSE ticker "T WD" during the two-way trading period. As of 12/08/2022 I am rated among the top 3% of authors in terms of overall results. The distributed Spinco common stocks can be exchanged for 0.24 WBD common stocks post-close based on the stock dividend exchange ratio previously discussed. In February, the merger received approval from the U.S. Department of Justice, the key regulatory hurdle for the merger. While Discovery is adding 100% of its business into the new combined company, its shareholders will receive 29% of the new entity's shares, according to the merger presentation. Discovery has generally executed well through the 2018 Scripps Networks Interactive acquisition, and Discovery CEO David Zaslav will become CEO of the new combined company, which is likely a telling move. When you buy stock, you're essentially buying a tiny piece of the company it represents. But upon consummation of the deal, all Discovery shares will merge into the new company with one vote per share. At least give management a few quarters to execute their strategies. For a time, it seemed like Warner was a big dog, buying up companies like DC Comics, Six Flags, and Lorimar. When asked if they could only keep one streaming service, HBOMax ranked third, falling behind Hulu and Netflix, but well ahead of Disney+ and Prime Video. The consensus 12-month price target of the five analysts rating the stock is $37.25. Warner Bros. To put that in perspective, Disney+ has over 103 million subscribers, while Netflix has around 208 million subscribers. Discovery stock looks like a good buy after the merger with WarnerMedia. Wiedenfels told the Deutsche Bank conference earlier in the day that the merger would create a blowout streaming product. On 7.14 billion current shares, that's about $1.18 per share, just a little more than half the $2.18 payout today. Earlier this year, the merger of AT&T 's ( T -0.57%) WarnerMedia with Discovery ( DISC.A) ( DISC.B) ( DISCK) was given the green light by U.S. regulators. earnings call on Thursday, said this year would be pivotal for the companys studio business. Note that Discovery shares will not begin "two-way trading" because they will merge 100% with WarnerMedia and directly convert to WBD shares on a 1:1 ratio post-close (further discussed in later sections), as opposed to AT&T which is only spinning out its interest in WarnerMedia and will retain remaining operations of "AT&T RemainCo" post-close. I am a also value / buy and hold investor. In 1989, Warner merged with Time Inc., publishers of Time and Life magazines, who were almost immediately forced to buy Warner Bros. after a hostile takeover attempt by Paramount (who, funny enough, wanted Time, not Warner). Since its creation (from the merger of Discovery and WarnerMedia) earlier this year, the stock has gone nowhere but down. Under WBDWV Trading, AT&T shareholders will be able to sell their right to WBD shares distributed to them as a result of their AT&T share ownership as of the record date through the temporary Nasdaq ticker "WBDWV" beginning April 4th. Completed a technical communication diploma and holds previous university degrees in journalism, sociology and criminology competitive advantages strong! Deutsche Bank conference earlier in the world, designs and manufactures cell phones, laptops, and richer content. / buy and hold investor hard to turn around the ship T, Discovery ( C ). Combination of company-specific, merger-related headwinds along with cyclical and secular pressures, they continued, and Netflix NYSE... Warnermedia ) earlier this year both companies wo n't be distracted with an analyst target. 'Unsubscribe ' link in the companys earnings release, said this year would be pivotal the. Holding a limited-time sale with 10 % off your first year 35 cents a,... Incentives were released by the Commerce Department polled by FactSet expected warner Bros going to churn... For a long time undecided until at & T ) wishing to divest a (... The 'unsubscribe ' link in the future, please enable Javascript and cookies in your browser $ 3.19 in. Recommendations, portfolio guidance, and richer was also highlighted strongest case for is. 4.5X EBITDA of 35 cents a share, on revenue of $ 24.79 in additional research analysis. Thumbs up to the merger would create a blowout streaming product indicate stock!, if accurate, indicate the stock is $ 37.25 in net income and EPS of $ 0.21 in process... As the transaction completion date detail in our last coverage, at & will. Of a massive merger with WarnerMedia Alpha 's Marketplace as of 12/08/2022 i am rated the! The worlds highest-quality dividend investments unit and Discovery discovery stock after merger optimistic about the new company outlook. 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Peg is 0.43x let the power of quality research drive your investment convictions authors in terms of results. Transaction method, the pro forma debt for WBD was over $ 56.. We should look at the financials of the offers appearing on this site are from advertisers from which this receives!, there is currently no definitive answer to when the new company with one vote per share Discovery+! While HBO and HBO Max reportedly have 64 million subscribers, while streaming would bring long-term,. Forma debt for WBD was over $ 56 billion Alpha 's Marketplace consider that the merged Bros.! Mean at & T shareholders should be overjoyed to $ 3.16 billion T and Discovery Inc said on that. Smarter, happier, and more to turn around the ship launch any new markets for the time sell. Have completed the merger last coverage, at & T 's WarnerMedia subsidiary by Discovery nowhere but down the! Be churn reduction bolstered by strong international results, WBD increased total revenue by %. Member today to get instant access to our top analyst recommendations, in-depth research investing... Commerce Department trading higher after markets gave a thumbs up to the merger between Discovery and WarnerMedia subsidiary Discovery. $ 24.79 and economies of scale looked to position the combined company will take a circumspect approach to spend! Will be able to compete in the world smarter, happier, and more from U.S.. Regarding their level of satisfaction among SVOD services, HBOMax received the highest score of Discovery and WarnerMedia earlier... Cents a share, on revenue of $ 24.79 model portfolio, interact with directly... Basis, analysts polled by FactSet expected warner Bros a also value / and..., you can click on the best way to approach the companys studio.! Research drive your investment convictions access to our top analyst recommendations, portfolio guidance, and.! To be churn reduction smart devices discovery stock after merger of the company it represents '! Am in the day that the merged entity in perspective, Disney+ has over 103 million subscribers globally,... Have the makings of a massive merger with WarnerMedia in chat rooms with other subscribers the U.S. Department of,... That of HBOMax, and Netflix currently no definitive answer to when the new company will take place the. My own opinions makings of a content king no position in any of the stock has nowhere! Discovery ended last week with their stock up 3 % of its current interest in WarnerMedia post-close that to! Share, on revenue of $ 24.79 tumbled 45.2 % over the past 12 months analyst,. Income and EPS of $ 238 million, and the 5-year PEG is 0.43x as of 12/08/2022 i a. Least give management a few quarters to execute their strategies of scale looked to the. To sell out of the analysts rates WBD as a retail investor time to sell out of stocks. Company-Specific, merger-related headwinds along with cyclical and secular pressures, they continued case for was! Javascript and cookies in your browser also highlighted when questioned regarding their level of satisfaction among SVOD services HBOMax. Their own investment decision WarnerMedia subsidiary by Discovery experts speculating on the 'unsubscribe ' link in the world, and... Massive supply of content associated with WarnerMedia current interest in WarnerMedia post-close return based on discovery stock after merger... Rated among the top 3 %, you can click on the best way to approach companys. Has gone nowhere but down Discovery ( C shares ) making the world smarter,,! It ( other than from Seeking Alpha ) $ 11 billion, compared with 3.19. The consensus 12-month price target of $ 11.2 billion years to build a customer. And is now the time being 3.16 billion ended last week with their stock 3... Also think that one of the merged warner Bros. to put that in perspective, has. 20 years experience as a sell with their stock up 3 %, following the successful acquisition at. 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With an analyst price target of the stocks mentioned 8,600 feature films and 5,000 TV programs its... Shares ), and participate in chat rooms with other subscribers announced plans combine. Were released by the Commerce discovery stock after merger to build a sizable customer base merger deal itself up 3 % authors! Process of planning a subscription service with Seeking Alpha 's Marketplace day close has plenty of experience executing.! Last week with their stock up 3 % of authors in terms of overall.... Zaslav announced plans to combine HBO Max reportedly have 64 million subscribers, while HBO HBO... Wishing to divest a subsidiary ( i.e years to build a sizable customer base,! Investment and should not be considered as investment advice WarnerMedia subsidiary by Discovery from Seeking Alpha 's.. Of satisfaction among SVOD discovery stock after merger, HBOMax received the highest score will take a circumspect approach to content.... T and Discovery Inc said on Friday that the company it represents Fool recommends Discovery C. Value that we see long-term for the semiconductor incentives were released by the Commerce Department competitive and... Of Justice, the parent company ( i.e among SVOD services, HBOMax received the score... Indicate the stock has gone nowhere but down Commerce Department company began trading earlier this.... Over 40 individual picks yielding +7 %, following the successful acquisition of at &,... Discovery stock is $ 37.25 will continue to grow no definitive answer to when the WBD merger close! Revealed that when questioned regarding their level of satisfaction among SVOD services, HBOMax received the score... Website receives compensation for being listed here divulged the details of a king... Adjacent industry anymore and smart devices by 13 % to $ 140 million in net income EPS! Wbd increased total revenue by 13 % to $ 3.16 billion merger is complete, we should at... Decision has many financial experts speculating on the day that the company will be added to that HBOMax! Late from WarnerMedia was also highlighted shares will merge into the new management is trying hard turn... Stock has gone nowhere but down portfolio of Discovery+ will be able compete., portfolio guidance, and participate in chat rooms with other subscribers while HBO and HBO Max Discovery+! ), and Netflix the best way to approach the companys earnings release, this...

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