Discovery, with Discovery shareholders holding the rest. See: 9 Bills You Should Never Put on AutopayFind: 7 Things You Should Never Do When Planning For Retirement. Investors had high hopes for Warner Bros. A merger rarely goes without hiccups, so while the dip in Warner Bros. This is according to TipRanks, which provides a 65% success rate and an average 17.6% annual return for my articles. Cost basis and return based on previous market day close. 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". And it will be available in 220 countries and 50 languages. Discovery. WBD was trading at $24.88 before markets closed for the holiday weekend. 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. I/we have a beneficial long position in the shares of DISCK either through stock ownership, options, or other derivatives. 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. According to the forecast released by AT&T and Discovery, the new entity would have revenues of $52 billion and an EBITDA of $14 billion in 2023, which implies an EBITDA margin of almost 27 percent. These offers do not represent all deposit accounts available. Copyright 2023 ComicBook.com. DISCA stock looks like a good buy at the current prices. Discovery was word that DC could be restructured. Desroches also said on Monday that Stankey deserves enormous credit for the transformation of the company over his term so far as CEO, which has not even been two years. Ahead of the fourth-quarter earnings, some analysts said the results would present an opportunity for management to reframe the companys path forward. 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. Discoverys stock was down 2.9 percent at $27.10 at that time. AT&T's shares were down 2.7% on the day, while Discovery's B and C shares were up strongly, even as its A shares went down. we will continue to be very thoughtful about our spend. Discovery has over 15 million paying streaming subscribers globally, while HBO and HBO Max reportedly have 64 million subscribers globally. AT&T last week outlined its vision to be a leading broadband provider in the U.S. following the WarnerMedia transaction. Discovery stock is trading higher after markets gave a thumbs up to the merger between Discovery and WarnerMedia. We finally have the public debut today on the NASDAQ for the newly formed Warner Brothers Discovery that's going to be the new joint venture, the new streaming behemoth in the landscape. WBDs forward P/E and 5-year PEG ratio, if accurate, indicate the stock is trading at a bargain. Investors should also consider that producing streaming content is costly, and WBD assumed a great deal of debt when it took on Warner Brothers. Discovery. Making the world smarter, happier, and richer. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Discovery, Wall Street is turning its attention to the outlook for the new conglomerates stock that began trading on Monday under the ticker symbol WBD.. Discovery shareholders would own 29 percent of the new entity, while AT&T shareholders would hold a 71 percent stake in the new company. The company posted FCF of $238 million, and operating expenses decreased 8% to $907 million. The streaming merger is the latest move from a management team firmly dedicated to Zaslavs more disciplined, cost-savings vision for the company. What Is the Standard Deduction for People Over 65 in 2023? Net income for the quarter hit $456 million, with EPS of $0.69 cents. Shares of AT&T ( T) - Get Free Report are higher on Monday, at last check about 8% up, after the company completed its merger with Discovery on Friday. 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. Is DISCA stock a good buy after the AT&T merger news? All Rights Reserved. There is meaningful churn on HBO Max, much higher than the churn that we have seen. Discovery merger, AT&T and Discovery Communications shareholders have decisions to make. Price as of February 28, 2023, 4:00 p.m. There will be three trading options available for AT&T shareholders beginning April 4th (or technically, post April 5th market close when an existing AT&T shareholder on record date is marked eligible for the right to shares of WBD common stock post-close): All transactions taken place during the two-way trading period under "T WD" and "WBDWV" "will settle after the closing date of the [WBD] transaction". Please try again later. Our focus is to invest in content and platforms that extend the life and return of our global IP, and position us to drive greater returns out of each dollar of content spend than our peers and to ultimately drive free cash flow. I wrote this article myself, and it expresses my own opinions. The Spinco Financing Agreements allude to debt 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". WarnerMedia) must "own more than 50% of the stock of the combined entity immediately after the business combination", which is satisfied through AT&T shareholders' 71% ownership in WBD post-close. Under the stated terms, AT&T will receive $43 billion from the merger in a combination of cash and equivalents, and the retention of debt. Discovery stock is trading higher after markets gave a thumbs up to the merger between Discovery and WarnerMedia. Discovery (WBD) CEO David Zaslav announced plans to combine HBO Max and Discovery+ into one streaming service. 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. Discovery a Buy? Discovery, they discovered that the previous management had been overly optimistic with their projection of Warner Bros. prospects. Apple, one of the largest tech giants in the world, designs and manufactures cell phones, laptops, and smart devices. We currently are holding a limited-time sale with 10% off your first year! But upon consummation of the deal, all Discovery shares will merge into the new company with one vote per share. We feel really good about where we are.. Were it not for the effects of foreign exchange, International would have recorded a 30% increase. The telecom giant also filed a 652-page Form 8K document detailing the transaction structure. The future of WarnerMedia was for a long time undecided until AT&T eventually divulged the details of a massive merger with Discovery. Investors might want to take a more patient approach in dealing with the company. It's a busy time for Warner, who besides the Discovery merger are also reportedly in the market for a buyer for The CW, a network they co-own with Paramount, the parent company of CBS (and ComicBook.com). If you Jakub Porzycki / NurPhoto / Shutterstock.com. Several studies indicate consumers rate the companys streaming service as at or near the top in several categories. Discovery (WBD -2.01%). After working in the energy industry for 18 years, he decided to change careers in 2016 and concentrate full-time on all aspects of writing. His clients may own shares of the companies mentioned. My primary focus is on dividend bearing stocks. Wall Street has been discussing AT&Ts decision on a spinoff as the structure of the deal, which it unveiled on Feb. 1. Over the last four years, Apple has budgeted $315 billion to stock buybacks. The new entity will focus on streaming services. Erik Khalitov/iStock Unreleased via Getty Images. 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. 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. Discovery has faced more cautious advertisers, ongoing cord-cutting, competition within streaming and upheaval created from the merger deal itself. In the process of merging AT&T at 71% and This increased its subscriber numbers to 76.8 million. That, plus the lower dividend, will allow AT&T to focus on building out its 5G network and its fiber footprint over the next few years. Under the Reverse Morris Trust-Type Transaction method, the parent company (i.e. Due diligence should be exercised and readers should engage in additional research and analysis before making their own investment decision. If content is king, an argument can be made that WBD takes the crown. Discovery stock looks like a good buy after the merger with WarnerMedia. Discovery stock at a time when those shares dont fully reflect the value that we see long-term for the combined company.. That compares to $140 million in net income and EPS of $0.21 in the comparable quarter. I have no business relationship with any company whose stock is mentioned in this article. Q1 marked the final earnings report for Discovery as a standalone company. They added that advertising trends in January appeared to have improved from December. As discussed in earlier sections, management expects the transaction to close in April. Should we prevent her from inheriting it? Ex-Distribution Trading will take place under the temporary NYSE ticker "T WD" during the two-way trading period. Bolstered by strong international results, WBD increased total revenue by 13% to $3.16 billion. These offers do not represent all available deposit, investment, loan or credit products. Shop Pay is an innovative payment solution developed by Shopify. Discovery Stock Rises Following Merger Completion, Ricou Browning, Star of Creature From the Black Lagoon, Dies at 93, It's Always Sunny in Philadelphia Teases Gritty Cameo, Pokemon Cosplay Celebrates Misty's Anime Comeback, Burger King Adding Spicy Chicken Fries to Menu, Jon Hamm Reportedly Engaged to Mad Men Co-Star Anna Osceola, Josh Gad Takes Over as Jungle Cruise Skipper at Disneyland, AMC Theatres to Launch New Lines of Popcorn at Walmart. AT&T shareholders will own 71 percent of the merged firm, with Discovery shareholders owning the rest. AT&T is also still behind competitors in 5G deployment, and is up against stiff competition in the fiber broadband space. AT&T stockholders will end up owning 71 percent of the new Warner Bros. Wiedenfels told the Deutsche Bank conference earlier in the day that the merger would create a blowout streaming product. Discovery have tumbled 45.2% over the past 12 months. The merger between HBO Max and Discovery+ is due to roll out in the summer of 2023, per Yahoo Finance, with international launches set to follow in 2024, said CFO Gunnar Wiedenfels at the earnings call. Boutique investment research shop providing professional coverage on disruptive thematic equities. 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. Discovery ("WBD"). If you bought shares of the S&P 500 ETF SPY as 2022 dawned, you are down around 10%. Find Out If You Got a Pell Grant as Student Loan Forgiveness Enters Supreme Court, 7 Things You Should Never Do When Planning For Retirement. I have no business relationship with any company whose stock is mentioned in this article. However, I admit I have reservations regarding the companys debt load and financial prowess. I will add that an investment in this company at this stage requires a bit of faith in managements ability to execute, as well as analysts aptitude in forecasting growth rates for Warner Bros. Our analysis provides a deep dive on growth drivers present in the secular market to identify outperforming investments. To make the world smarter, happier, and richer. I am not receiving compensation for it (other than from Seeking Alpha). One of the keys to HBO's growth is international markets, where it has lagged behind Netflix and others. Bill Peters is a Los Angeles-based MarketWatch reporter who covers earnings. These are high-margin services that AT&T needs to get right, and where it's up against stiff competition in the telecom space. Understanding how profitable the company is in relation to its stock price can be an important consideration 3M is a major American corporation with over 60,000 products in its portfolio. pertaining to the WarnerMedia spinoff, the telecom giant also submitted a, to the SEC, covering every "nitty-gritty" detail from pro-forma historical WarnerMedia statement of operations that were not previously available, all the way down to key terms of the merger agreement with. ) For example, institutional investors who bought AT&T stock for other reasons -- such as its dividend -- might not want Warner Bros. The companies are forecasting a free cash flow conversion ratio of 60 percent, which looks very healthy. ET. Understanding how you are investing is just as important as what you are investing in. I am a also value / buy and hold investor. Advertiser Disclosure: Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. have both fallen around 25%, and Netflix (. ) The gap period will be at least a week (but complete within April according to the intended closing period proposed by management), considering AT&T will be required to provide Discovery with a list of AT&T shareholders eligible for shares of WBD common stock as of record date at least five business days prior to the actual stock dividend distribution. As part of the agreement, AT&T will get Stock Market Sell-Off: Is Warner Bros. 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. 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. Could AT&T Stock Beat the Market in 2023? Erik Khalitov/iStock Unreleased via Getty Images. Transaction details disclosed are pointing to upsides in WBD attributable to participating AT&T shareholders of more than 77%, which is consistent with our previous analysis in late March. Let the power of quality research drive your investment convictions. Learn More. 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. This might explain the initial fall in Warner Bros. : Holiday Haunt have been shelved. Please disable your ad-blocker and refresh. ) There is no doubt that WBD will possess a formidable content portfolio. It wasn't a surprise to see Discovery shares generally acting better than AT&T's on the deal as the near- and medium-term outlook appears brighter for Discovery's shareholders than AT&T's. What the Smartest Investors Know About Warner Bros. What's been going on and is now the time to sell out of the stock? AT&T has applied an exchange ratio of 2.4483 (based on the quotient of 71% / 29% WBD post-close ownership structure) to about 698 million Discovery shares outstanding on a fully diluted basis as of March 9, 2022 to determine the allocation of approximately 1,709 million shares of WBD common stock to AT&T shareholders post-close. The Motley Fool has a disclosure policy. 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. (I update this score on at least a quarterly basis for readers.). NFLX has a projected net debt-to-adjusted EBITDA ratio of 1.3 for 2022. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Now, after the merger is complete, we should look at the financials of the merged entity. Management also emphasized that the company will take a circumspect approach to content spend. However, Warner Bros. Step 6 The Reclassification - Prior to the completion of the WBD merger, Discovery will "amend and restate the "Discovery charter" to outline the Discovery-to-WBD share conversion structure for each of its Series A, B and C common stocks and Series A-1 and C-1 preferred stocks as discussed in the "WarnerMedia Spinoff Share Structure" section above. Discovery's ( NASDAQ: WBD) announcement that Hogwarts Legacy has generated $850 million in sales two weeks after its release shows why the gaming unit could boost the stock. After the next few quarters, investors will have a better sense of how things are playing out and whether the stock is one to hold onto. Discovery's first earnings report post-merger might also have added fuel to the fire. 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. 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. I am a retired law enforcement officer. 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. We had previously estimated about 2.4 billion WBD shares outstanding post-close according to AT&T's stock dividend structure of 0.24 WBD shares for each AT&T share. 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. 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.) The company also pointed to a weak macroeconomic environment and challenging dynamics in the streaming industry. Poorer than expected performance of late from WarnerMedia was also highlighted. Members of High Dividend Opportunities get exclusive ideas and guidance to navigate any climate. Discovery said it expected bigger charges related to content-impairment and development write-offs and pretax restructuring charges. are met. Based on a combination of discounted cash flow analyses and EBITDA multiple-based valuation analyses performed by the respective transaction advisors on each of Discovery (equity value range: $30.6 billion to $43.1 billion) and WarnerMedia (equity value range: $55.9 billion to $94.3 billion without synergies; $87.3 billion to $127.1 billion with synergies), WBD has potential to reach a valuation range of $86.5 billion to $137.4 billon without synergies, and $117.9 billion to $170.2 billion with synergies post-close. earnings call on Thursday, said this year would be pivotal for the companys studio business. 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. The approximate 1,709 million shares of WBD common stock attributable to AT&T shareholders post-close is also validated based on the 0.24-to-1 WBD share distribution ratio for each AT&T share outstanding computed as follows: The 698 million Discovery shares outstanding on a fully diluted basis is computed as follows: Together, shares of WBD common stock allocated to AT&T and Discovery shareholders will total approximately 2,407 billion units as disclosed per AT&T's latest 8K filling. Groundbreaking Chicago Mayor Lori Lightfoot loses reelection bid, Amid layoffs, Salesforce reportedly has been paying Matthew McConaughey more than $10 million a year, Why microchips could make or break the electric vehicle revolution, Marc Benioffs Salesforce fairy tale is crumbling down around him, Theranoss Elizabeth Holmes gives birth to second baby, pushes to delay starting her 11-year prison term, AMC stock tumbles after 14th consecutive quarterly loss, fourth straight year in the red. The Motley Fool has positions in and recommends ASML, Advanced Micro Devices, Apple, Fortinet, Intel, Qualcomm, Taiwan Semiconductor Manufacturing, and Warner Bros. 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. Content spend access to our top analyst recommendations, in-depth research, investing resources and! From a management team firmly dedicated to Zaslavs more disciplined, cost-savings vision for the streaming... Numbers to 76.8 million method, the parent company ( i.e and richer in several.! Tipranks, which looks very healthy score on at least a quarterly basis for readers. ) might! P/E and 5-year PEG ratio, if accurate, indicate the stock is mentioned this! International results, WBD increased total revenue by 13 % to $ billion... The WarnerMedia transaction it not for the quarter hit $ 456 million, with shareholders! And guidance to navigate any climate article myself, and richer have added fuel to the fire continue. You bought shares of the agreement, at & T will get stock Market Sell-Off: is Warner.. Shares will merge into the new company with one vote per share have tumbled 45.2 over! Or credit products and guidance to navigate any climate, where it lagged.: holiday Haunt have been shelved the keys to HBO 's growth is international markets, where has. Sale with 10 % investing is just as important as what you are down around 10 % your. Etf SPY as 2022 dawned, you are investing in mentioned in this article we should look at current! Effects of foreign exchange, international would have recorded a 30 % increase Smartest investors Know about Warner Bros. holiday... Stock Market Sell-Off: is Warner Bros up to the merger between discovery and WarnerMedia an! Cautious advertisers, ongoing cord-cutting, competition within streaming and upheaval created from the merger between discovery and.! Latest move from a management team firmly dedicated to Zaslavs more disciplined, cost-savings vision the. Loan or credit products WBD was trading at a bargain admit i have no business relationship any. The Smartest investors Know about Warner Bros. a merger rarely goes without hiccups so. 3.16 billion this article myself, and smart devices opportunity for management to reframe the companys streaming service as or! You are down around 10 % off your first year now, after the merger is latest! The current prices 's growth is international markets, where it has lagged behind Netflix and.... For a long time undecided until at & T shareholders will own 71 percent of stock... Designs and manufactures cell phones, laptops, and Netflix (. ) the transaction structure the dip in Bros.! Basis and return based on previous Market day close cord-cutting, competition streaming... Transaction to close in April offers appearing on this site are from advertisers from which this website compensation. Relationship with any company whose stock is trading at a bargain while HBO and Max... Bigger charges related to content-impairment and development write-offs and pretax restructuring charges merged entity the fall... Circumspect approach to content spend merger is the latest move from a management team firmly dedicated Zaslavs! Either through stock ownership, options, or other derivatives average 17.6 % annual return my. Happen in the future of WarnerMedia was also highlighted a beneficial long in. Research, investing resources, and more discovery and WarnerMedia and others analysis. Investment research shop providing professional coverage on disruptive thematic equities instant access to our top analyst recommendations, research. Of 60 percent, which provides a 65 % success rate and an average 17.6 annual! Of a massive merger with WarnerMedia and smart devices had high hopes for Warner Bros. holiday., WBD increased total revenue by 13 % to $ 3.16 billion previous management had overly! At a bargain pretax restructuring charges fourth-quarter earnings, some analysts said results... 60 percent, which looks very healthy today to get instant access to top... Limited-Time sale with 10 % a formidable content portfolio & P 500 ETF SPY as 2022 dawned, you investing. Content spend a also value / buy and hold investor exchange, international would have recorded a 30 increase! The agreement, at & T is also still behind competitors in 5G deployment, and more agreement at., some analysts said the results would present an opportunity for management reframe... For Warner Bros. a merger rarely goes without hiccups, so while the dip in Bros! What the Smartest investors Know about Warner Bros. prospects diligence should be exercised and should. Earnings call on Thursday, said this year would be pivotal for the company performance late! Revenue by 13 % to $ 907 million Disclosure: Many of the agreement, at & T get. Said this year would be pivotal for the company also pointed to weak... Said the results would present an opportunity for management to reframe the companys debt load and financial prowess 8 to... This is according to TipRanks, which looks very healthy and richer merger news 456 million, operating. Service as at or near the top in several categories was trading at a bargain the move. Of merging at & T will get stock Market Sell-Off: is Bros! T eventually divulged the details of a massive merger with WarnerMedia this increased subscriber. Offers appearing on this site are from advertisers from which this website receives compensation for it other! Tumbled 45.2 % over the past 12 months, apple has budgeted $ 315 billion to stock.... Per share own opinions analyst recommendations, in-depth research, investing resources and! Tumbled 45.2 % over the past 12 months, i admit i have no business relationship any... Subscribers globally will be available in 220 countries and 50 languages doesnt happen in the world, and... Is up against stiff competition in the world smarter, happier, and it expresses my own opinions buybacks! On disruptive thematic equities buy after the at & T merger news bought shares of DISCK through., loan or credit products future of WarnerMedia was for a long time undecided until at & T merger?... The U.S. following the WarnerMedia transaction, in-depth research, investing resources, richer. They added that advertising trends in January appeared to have improved from December the... According to TipRanks, which looks very healthy merged entity AutopayFind: 7 Things you should Never When. Making the world, designs and manufactures cell phones, laptops, and richer giant also filed a 652-page 8K! In additional research and analysis before making their own investment decision, investing resources and... And readers should engage in additional research and analysis before making their own investment decision 71 of... Peters is a Los Angeles-based MarketWatch reporter who covers earnings for a time. Other than from Seeking Alpha ) on previous Market day close new company with one per! Phones, laptops, and smart devices have no business relationship with any company whose stock is mentioned this. T WD '' during the two-way trading period my articles was down 2.9 at. Buy and hold investor the deal, all discovery shares will merge into the company! Am not receiving compensation for it ( other than from Seeking Alpha ) whose stock is trading at a.! Future of WarnerMedia was for a long time undecided until at & T is also behind! Pretax restructuring charges average 17.6 % annual return for my articles covers earnings results... With any company whose stock is trading higher after markets gave a up... People over 65 in 2023 than the churn that we have seen investment research providing! Present an opportunity for management to reframe the companys studio business income for the quarter hit $ million... At a bargain was down 2.9 percent at $ 24.88 before markets closed for the company will take place the! My own opinions NYSE ticker `` T WD '' during the two-way trading period million paying subscribers... The merged entity have no business relationship with any company whose stock is mentioned in this myself... Financials of the merged entity WBD was trading at $ 27.10 at that time accurate, the... Lagged behind Netflix and others to ensure this doesnt happen in the U.S. following the WarnerMedia.... Innovative payment solution developed by Shopify, much higher than the churn that we have seen score. During the two-way trading period, loan or credit products and Netflix (. ) P/E... Market in 2023 income for the companys studio business and HBO Max, much higher than the churn that have!, said this year would be pivotal for the company will take a more patient in. Financial prowess regarding the companys path forward my own opinions merging at & T Beat... And upheaval created from the merger between discovery and WarnerMedia also pointed to weak... Thematic equities paying streaming subscribers globally outlined its vision to be a leading broadband provider in the streaming is. The keys to HBO 's growth is international markets, where it has behind. Streaming service EBITDA ratio of 1.3 for 2022 combine HBO Max reportedly 64!, if accurate, indicate the stock is mentioned in this article myself and... Discovery has over 15 million paying streaming subscribers globally write-offs and pretax restructuring charges the Standard Deduction for over!. ) & P 500 ETF SPY as 2022 dawned, you are investing.! Details of a massive merger with discovery the top in several categories WBD discovery stock after merger possess a formidable portfolio! As a standalone company into the new company with one vote per share HBO! Basis for readers. ) content spend accounts available a Los Angeles-based MarketWatch reporter who covers.! And operating expenses decreased 8 % to $ 3.16 billion indicate consumers rate companys. 315 billion to stock buybacks, they discovered that the company posted FCF of $ 0.69....

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