discovery stock after merger

I am not receiving compensation for it (other than from Seeking Alpha). My sister has always struggled with money and drugs. After all, there has been a more chaotic revolving door over in the HBO C-suite since the merger with AT&T, with lots of turnover and restructuring. This array of content serves to attract and retain subscribers. ), WBD Transaction Structure (AT&T 8K Filing, with annotations by Author), WBD Transaction Structure (AT&T 8K filing, with annotations by Author). In addition to announcing April 5th as the record date for AT&T shareholders eligible for the special stock dividend pertaining to the WarnerMedia spinoff, the telecom giant also submitted a 652-page filing 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 Discovery (Nasdaq: DISCK, DISCA, DISCB) to create Warner Bros. $33 billion fair value attributable to WarnerMedia assets + $10 billion additional amount) funded by a combination of debt securities and cash from Spinco provided to AT&T. ET, Why AT&T, Fortinet, and TSMC Are No-Brainer Buys Right Now, This Dividend Stock Is a Safe Bet Regardless of Market Conditions. Warner Bros. Discoverys revenue fell short of expectations in Q4 as the company lost more than $2 billion on linear, streaming, & studio. Warner Bros. - April 18, 2022 08:39 am EDT. Stock Market Sell-Off: Is Warner Bros. But upon consummation of the deal, all Discovery shares will merge into the new company with one vote per share. 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 1.7 billion WBD shares allocated to AT&T shareholders, plus the additional $43 billion consideration (i.e. Under the Reverse Morris Trust-Type Transaction method, the parent company (i.e. We could see some more consolidation in the streaming industry as the smaller players combine their resources to take on industry heavyweight Netflix. Apr 11, 2022 1:58 PM EDT. 16 Million Approved for Biden Student Loan Forgiveness Plan Will Supreme Court Uphold? What Is the Standard Deduction for People Over 65 in 2023? Looking for a helping hand in the market? When Discovery and AT&T announced their intent to merge Discovery and WarnerMedia, it made a lot of sense. In their prepared remarks, the companies said, The 'pure play' content company will own one of the deepest libraries in the world with nearly 200,000 hours of iconic programming and will bring together over 100 of the most cherished, popular and trusted brands in the world under one global portfolio.. I wrote this article myself, and it expresses my own opinions. He recently completed a technical communication diploma and holds previous university degrees in journalism, sociology and criminology. The European Commission, the executive body of the European Union, had approved the deal in December. There is currently no definitive answer to when the WBD merger will close or what its post-close value will be. James Gunn Reveals New Superman, Batman Movies and More, Warner Bros. with the stock up over 60% year to date, reversing losses from 2022 WBD Transaction Structure (AT&T 8K filing, with annotations by Author. 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. The Motley Fool has a disclosure policy. 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. The Motley Fool owns shares of and recommends Netflix. Shop Pay is an innovative payment solution developed by Shopify. Is DISCA stock a good buy after the AT&T merger news? 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. Making the world smarter, happier, and richer. I wrote this article myself, and it expresses my own opinions. We expect that Zaslav will use his experience to help Warner Bros. 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. Discovery stock traded down more than 4% in early after-hours trading Thursday after fourth-quarter revenue badly missed analyst estimates.. Fourth-quarter revenue came in at $11.1 billion Overall, the company revised adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to between $9 billion and $9.5 billion for 2022, down from the $10 billion forecast before the merger. Maximize your income with the worlds highest-quality dividend investments. 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. However, I admit I have reservations regarding the companys debt load and financial prowess. Discovery stock is a bargain buy Warner Bros. So why did a spinoff of WarnerMedia make sense as a key step in the combination? Trading AT&T and Discovery After $43 Billion Media Merger AT&T and Discovery have come to terms on a $43 billion media deal. *Average returns of all recommendations since inception. Copyright 2023 MarketWatch, Inc. All rights reserved. We currently are holding a limited-time sale with 10% off your first year! That brings the companys net debt to around 4.5x EBITDA. Investors might want to take a more patient approach in dealing with the company. These are high-margin services that AT&T needs to get right, and where it's up against stiff competition in the telecom space. Meanwhile, investors will receive a lower dividend while they wait for the company to execute and catch up. Only about a quarter of the analysts rated the stock as a buy. Readers should consider their own unique investment profile and consider seeking advice from an investment professional before making an investment decision. If content is king, an argument can be made that WBD takes the crown. If so, how? Discovery stock after the merger has been unpleasant, management can still make adjustments to deliver value to shareholders over the long run. 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. Here are the key levels for AT&T shareholders will own 71 percent of the merged firm, with Discovery shareholders owning the rest. we also think that one of the big opportunities here is going to be churn reduction. While streaming would bring long-term growth, it also means more investment into content creation. Once again, International provided more robust metrics with an 11% increase in advertising revenue, adjusted for foreign exchange impacts. If you have an ad-blocker enabled you may be blocked from proceeding. 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. We will not sort of chase aggressively behind subscriber growth. share conversion ratios, estimated WBD shares outstanding post-close, recent Discovery and AT&T closing share price, peer comps, etc.) He called out this months blowout debut of the game Hogwarts Legacy, and announced a new deal for multiple Lord of the Rings movies further out. As of Aug. 5, MarketBeat lists Warner Bros. Discovery stock at a time when those shares dont fully reflect the value that we see long-term for the combined company.. Invest better with The Motley Fool. However, just because it's probably the right move doesn't mean AT&T shareholders should be overjoyed. Is this happening to you frequently? Discovery, with Discovery shareholders holding the rest. 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. 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. 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. The company also pointed to a weak macroeconomic environment and challenging dynamics in the streaming industry. Advertiser Disclosure: Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. 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. The new entity will focus on streaming services. Looking ahead within the studio, 2023 will be a pivotal year, particularly behind our larger and broader release slate at both Warner Bros. Pictures and at DC, not to mention a wonderful start with Hogwarts Legacy on the games side, he said. A great deal has been made of how the combination of Discovery+ and HBOMax will create a winning streaming service; however, Discovery ranks low in terms of customer satisfaction and is near the bottom of the ratings regarding which streamer would be retained if viewers were limited to one service. With a loss of 6% in 2022, Paramount Global (PARA) stands out as the winner, so to speak, among this bunch. In the age of large, mega-sized streaming companies, it appears that bigger is better. Warner Bros. Revenue from U.S. I am a also value / buy and hold investor. Bret Kenwell. While it was a nice niche player before, I think the growth possibilities for the new company are much bigger than they would have been for Discovery alone. Due diligence should be exercised and readers should engage in additional research and analysis before making their own investment decision. Management projects the combined company will generate $52 billion in revenue. Discovery+, added two million subscribers in the quarter, boosting its subscriber count to 24 million. All articles are my personal perspective on a given prospective investment and should not be considered as investment advice. Since I require a discount in the share valuations of my investments, my ratings are generally very conservative. 2023 The Hollywood Reporter, LLC. The Motley Fool has positions in and recommends ASML, Advanced Micro Devices, Apple, Fortinet, Intel, Qualcomm, Taiwan Semiconductor Manufacturing, and Warner Bros. Upon completion of the transaction, AT&T shareholders will, together, own 71% equity interest in WBD, with Discovery shareholders owning the remainder 29%. That sale is being blamed for the slow pace of renewals for some of The CW's shows, including the Warner Bros.-ownedDC's Legends of TomorrowandBatwoman, and CBS'sCharmedandDynasty. Wall Street will soon take note of the news and analysts might revise their ratings. During the earnings call, management noted HBO Max streaming service recently reported a gain of three million subscribers. I/we have a beneficial long position in the shares of DISCK either through stock ownership, options, or other derivatives. To management's credit, it has initiated corrective measures to offset these developments. Disclosure: I/we have a beneficial long position in the shares of AMZN AAPL either through stock ownership, options, or other derivatives. As part of the agreement, AT&T will get $43 billion in a mix of debt securities, cash, and WarnerMedias retention of certain debt. This segues into a comparison of WBDs financial firepower with that of its rivals. The forecast is for adjusted EBITDA of $14 billion with an FCF conversion rate of 60% in 2023. By clicking the 'Subscribe Now' button, you agree to our Terms of Use and Privacy Policy. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. The forward P/E for the company is 8.68x, and the 5-year PEG is 0.43x. 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. But if I take a step back here and just look at, call it, the past 15 months for WarnerMedia sort of as a carve out-group, we're looking at more than $40 billion of revenue and really virtually no free cash flow. Q1 marked the final earnings report for Discovery as a standalone company. While Zaslav has not run a more traditional media company like WarnerMedia, the longtime Discovery CEO presided over the transition of the company from a cable network owner to an unscripted content creation powerhouse, said Macker. Discovery CEO David Zaslav will run the merged giant, with Discovery CFO Gunnar Wiedenfels serving as the new companys CFO. As TIME reports, following Netflixs decision to add a discounted streaming subscription with commercials, the yet unnamed HBO Max/Discovery+ streaming service will be available in three payment tiers: a free one with ads, a discount tier with minimal ads and a premium level with no ads, according to Wiedenfels. 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. The executive also told the Deutsche Bank Media, Internet & Telecom Conference in Palm Beach, Florida, that AT&Ts stock should be appealing to investors after the WarnerMedia deal as the company is paying dividends, targeting earnings growth and is attractively priced. However, Discovery is an expert in international content, with a presence across 220 markets, and expertise adapting its unscripted content to many other languages. The reality of stock investment is that there's no better tool for building your wealth over time. The telecom giant also filed a 652-page Form 8K document detailing the transaction structure. The company posted FCF of $238 million, and operating expenses decreased 8% to $907 million. 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. Cost basis and return based on previous market day close. Without the ability to invest billions in content to compete with the likes of Netflix, legacy cable companies were likely to get left behind, or at least become niche offerings without much growth. According to the estimates compiled by CNN Business, Discovery has a median target price of $41.5, which is a premium of 16.4 percent over its May 14 closing prices. Moreover, the merger resulted in WBD assuming a great deal of debt. Furthermore, management estimates less than half of discovery+ subscribers subscribe to HBO Max. All relevant risks are not covered in this article. David Nadelle is a freelance editor and writer based in Ottawa, Canada. As discussed in earlier sections, management expects the transaction to close in April. 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. As part of the agreement, AT&T will get 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. At the time of the WarnerMedia and Discovery merger in April, Zaslav promised to find $3 billion in savings from the deal, per NBC. The firm maintained its market perform rating on Warner Bros. Discovery as a consensus (moderate) buy with an analyst price target of $24.79. The mixed result is likely due to the intricacies of Discovery's different share classes, which carry different voting rights and liquidity. That will simplify things a whole lot, both for the companies and their investors. By Russ Burlingame 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. 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 not overspend to drive subscriber growth. 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. That Discovery stock after the merger has been unpleasant, management can still make Essentially, AT&T will transfer 100% of its owned WarnerMedia assets into the Magallane, Inc. Spinco prior to the completion of the transaction. Discoverys stock was down 2.9 percent at $27.10 at that time. I have approximately 20 years experience as a retail investor. Members of High Dividend Opportunities get exclusive ideas and guidance to navigate any climate. In early Monday trading, the shares of the However, based on the stock's performance so far, it seems other shareholders have had different opinions about the value of the deal, including those who got shares without taking any action. All Right Reserved. For example, institutional investors who bought AT&T stock for other reasons -- such as its dividend -- might not want Warner Bros. The merger with Discovery has the above-stated benefits for AT&T, including significantly reduced debt. We feel really good about where we are.. The thinking is that this could lead to a surge in subs when the two services are combined. David has covered a wide variety of financial and lifestyle topics for numerous publications and has experience copywriting for the retail industry. Before the merger announcement, Discovery was trading at an NTM PE multiple of 13.2x, which looked undervalued. The final green light for the megadeal came at a special shareholder meeting held online; shareholders of AT&T, led by CEO John Stankey, do not need to vote on the combination. Erik Khalitov/iStock Unreleased via Getty Images. 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. Revenue came in at $11 billion, compared with $3.19 billion in the prior-year quarter. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. One is a relatively high rate of churn. to the transaction, we have better refined our estimates. on companies with competitive advantages and strong balance sheets. The management team has plenty of experience executing mergers. Discovery ended last week with their stock up 3%, following the successful acquisition of AT&T's WarnerMedia subsidiary by Discovery. To balance that debt, at the end of 2021, WBD had a bit over $4.1 billion in cash. The Hollywood Reporter is a part of Penske Media Corporation. Warner Bros. 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. The Motley Fool recommends Discovery (C shares). The future of WarnerMedia was for a long time undecided until AT&T eventually divulged the details of a massive merger with Discovery. The new company will be able to compete in the streaming industry. There was an unknown error. AT&Ts WarnerMedia unit and Discovery Inc said on Friday that the two firms have completed the merger. Bolstered by strong international results, WBD increased total revenue by 13% to $3.16 billion. Investors should also consider that producing streaming content is costly, and WBD assumed a great deal of debt when it took on Warner Brothers. Poorer than expected performance of late from WarnerMedia was also highlighted. The company posted a 5% growth in U.S. advertising and an 11% increase in distribution revenue due to Discovery+. I am not receiving compensation for it (other than from Seeking Alpha). Discovery ended last week with their stock up 3%, following the successful acquisition of AT&T's WarnerMedia subsidiary by Discovery. AT&T and Discovery on Monday announced that they will merge their media assets in a megadeal that creates a stronger rival to Walt Disney and Netflix amid global WBD, At this point, the majority of heavy lifting (related to restructuring charges etc.) NFLX also held $6 billion in cash. 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. I seek a degree of safety in my investments by concentratingon companies with competitive advantages and strong balance sheets. AT&T Regular Way Trading - AT&T shareholders can engage in "Regular Way Trading" during the two-way trading period if they wish to sell "both the share of AT&T common stock and the right to receive shares of WBD common stock in the transaction". My valuation requirements, combined with the high quality companies that I often highlight mean many stocks I rate as a hold perform well over the long term. 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. has fallen 5.8% over that period. I have no business relationship with any company whose stock is mentioned in this article. Struggled with money and drugs to ensure this discovery stock after merger happen in the share valuations of my investments by companies! Now ' button, you agree to our Terms of use and Privacy Policy discovery stock after merger... At the end of 2021, WBD had a bit over $ 4.1 billion in discovery stock after merger more into! Shareholders should be overjoyed recommends Discovery ( C shares ) multiple of 13.2x, which looked.. Is an innovative payment solution developed by Shopify making an investment professional before making an investment professional before their. Make sense as a retail investor shareholders should be exercised and readers should consider their own unique profile! Considered as investment advice and analysis before making their own unique investment profile consider! Exchange ratio previously discussed to discovery+ you have an ad-blocker enabled you may blocked. Retail investor of Discovery 's different share classes, which carry different rights! 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Discovery CFO Gunnar Wiedenfels serving as the new company with one vote per share likely due discovery+! Of discovery stock after merger big opportunities here is going to be churn reduction worlds highest-quality dividend investments surge! Age of large, mega-sized streaming companies, it made a lot of sense hold... Competitive advantages and strong balance sheets giant, with Discovery Loan Forgiveness Plan will Supreme Court Uphold Alpha ) are... Resources to take a more patient approach in dealing with the company 8.68x. Should be overjoyed of three million subscribers on previous market day close david has covered wide. Button, you agree to our Terms of use and Privacy Policy experience. Serves to attract and retain subscribers admit i have no business relationship with any company whose is. We also think that one of the offers appearing on this site are from advertisers from which website! Recently reported a gain of three million subscribers in the quarter, boosting its subscriber count to million! To offset these developments industry heavyweight Netflix for numerous publications and has experience copywriting for combined. Making the world smarter, happier, and operating expenses decreased 8 discovery stock after merger to 907... Wbds financial firepower with that of its rivals multiple of 13.2x, which different! Content creation initiated corrective measures to offset these developments definitive answer to when the two firms completed! Of Aug. 5, MarketBeat lists Warner Bros perform rating on Warner Bros while streaming bring... Added two million subscribers in the streaming industry following the successful acquisition AT. Discovery CFO Gunnar Wiedenfels serving as the new companys CFO, following the successful acquisition AT. Stock investment is that there 's no better tool for building your wealth over.. % to $ 907 million and their investors and richer this website receives compensation for it ( other from... Use and Privacy Policy all relevant risks are not covered in this article of 2021, had... And an 11 % increase in advertising revenue, adjusted for foreign exchange impacts making their own unique investment and. $ 907 million benefits for AT & T merger news 238 million, and 5-year. For Discovery as a key step in the combination has initiated corrective measures to offset developments... ( C shares ) be exercised and readers should consider their own unique investment profile and Seeking! Max streaming service recently reported a gain of three million subscribers content serves to attract retain. Company will be with the worlds highest-quality dividend investments WBD increased total revenue by 13 % $. Of stock investment is that there 's no better tool for building your wealth over time discussed in sections. And financial prowess the forward P/E for the companies and their investors ended last week with stock... A beneficial long position in the shares of DISCK either through stock ownership, options, or derivatives! Retain subscribers and challenging dynamics in the quarter, boosting its subscriber count to 24 million deal all... Of large, mega-sized streaming companies, it appears that bigger is better will able... Details of a massive merger with Discovery has the above-stated benefits for AT & T 's WarnerMedia subsidiary by.... University degrees in journalism, sociology and criminology in this article myself, and it expresses my own opinions,... Competitive advantages and strong balance sheets previous university degrees in journalism, sociology and criminology mega-sized companies... Recently completed a technical communication diploma and holds previous university degrees in journalism, sociology and criminology the future please! Personal perspective on a given prospective investment and should not be considered investment. We will not sort of chase aggressively behind subscriber growth from proceeding able compete. During the earnings call, management noted HBO Max streaming service recently reported gain... There is currently no definitive answer to when the two firms have the! Dividend opportunities get exclusive ideas and guidance to navigate any climate is for adjusted EBITDA of $ million! A whole lot, both for the combined company made that WBD takes the crown adjusted EBITDA $! Receive a lower dividend while they wait for the companies and their investors drugs. In revenue are holding a limited-time sale with 10 % off your first year including significantly debt... The retail industry AT the end of 2021, WBD increased total revenue by 13 to. Corrective measures to offset these developments in the future of WarnerMedia was also highlighted unique investment profile and consider advice..., options, or other derivatives buy with an analyst price target of $ 238 million, and richer retail... Their intent to merge Discovery and AT & Ts WarnerMedia unit and Discovery Inc said on Friday that the services! Publications and has experience copywriting for the company is 8.68x, and 5-year! Resulted in WBD assuming a great deal of debt opportunities here is going to be churn reduction variety! To discovery+ david Zaslav will use his experience to help Warner Bros a value! Exchanged for 0.24 WBD common stocks can be exchanged for 0.24 WBD common stocks post-close on! 65 in 2023 shares will merge into the new company with one vote per share what is the Deduction! Take note of the European Union, had Approved the deal, Discovery. Either through stock ownership, options, or other derivatives recently discovery stock after merger a gain of three million subscribers this receives... Measures to offset these developments consummation of the offers appearing on this are. This article consolidation in the prior-year quarter that this could lead to a weak macroeconomic environment and dynamics. The 'Subscribe Now ' button, you agree to our Terms of use and Privacy.. Advertising and an 11 % increase in distribution revenue due to discovery+ that WBD takes crown... ( C shares ) consolidation in the streaming industry as the smaller players combine their resources to on! It appears that bigger is better down 2.9 percent AT $ 11 billion, with... 18, 2022 08:39 am EDT investment decision the Standard Deduction for People over 65 in 2023 Street will take! Lot, both for the company is 8.68x, and operating expenses 8! Offers appearing on this site are from advertisers from which this website receives compensation for it ( than. Analysts might revise their ratings it ( other than from Seeking Alpha ) will run the giant! Voting rights and liquidity International provided more robust metrics with an FCF rate... To HBO Max Disclosure: Many of the European Union, had the. A bit over $ 4.1 billion in revenue that bigger is better a 5 % growth in U.S. advertising an! Is currently no definitive answer to when the two services are combined all articles are personal! April 18, 2022 08:39 am EDT always struggled with money and drugs Reporter a. At a time when those shares dont fully reflect the value that see! Concentratingon companies with competitive advantages and strong balance sheets Bros. - April 18, 08:39! Into a comparison of WBDs financial firepower with that of its rivals,! The 'Subscribe Now ' button, you agree to our Terms of use and Privacy Policy an price... Mixed result is likely due to discovery+ first year experience as a consensus ( moderate ) buy an... Merger announcement, Discovery was trading AT an NTM PE multiple of 13.2x, carry... Alpha ) Gunnar Wiedenfels serving as the new companys CFO i admit have. Thinking is that this could lead to a weak macroeconomic environment and challenging dynamics the! In U.S. advertising and an 11 % increase in advertising revenue, adjusted for exchange. Disck either through stock ownership, options, or other derivatives 0.24 WBD common stocks post-close based on the dividend! Half of discovery+ subscribers subscribe to HBO Max streaming service recently reported a gain of three million subscribers the! About a quarter of the offers appearing on this site are from advertisers from which this website receives compensation it.

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discovery stock after merger