An Overview of Blue Chips. I owned shares of Discovery capital stock prior to the Closing Date. Data is a real-time snapshot *Data is delayed at least 15 minutes. Two Wall Street Legends will reveal their #1 recommendations and full "roadmap" for navigating the coming AI revolution. This transaction is expected to be completed between April 12 and the end of the month. 1125 N. Charles St, Baltimore, MD 21201. with AT&T shareholders AT&T shareholders continue to hold the same number of shares of AT&T common stock they held immediately prior to close. Upon completion of the Transactions, holders of AT&T common stock owned approximately 71% of the outstanding shares of WBD common stock on a fully diluted basis. AT&T Latin America provides wireless services to consumers and businesses in Mexico. A few minutes after, Warner Bros. Discoverys shares were up 1.8 percent at $16.01. Discovery Discovery completed its acquisition of WarnerMedia from AT&T on Friday. Discovery's stock. quotes delayed at least 15 minutes, all others at least 20 minutes. We want to hear from you. DTC earnings before interest, taxes, depreciation and amortization (EBITDA) performance is improving far more quickly than we expected, he wrote, noting that the companys trajectory looks appealing., His takeaway: Overall, managements commentary struck us as very upbeat and clearly excited about being able to focus on turning out top-caliber content (including a newly-announced set of Lord of the Rings movies) now that most of the work of the postmerger restructuring is out of the way.. Discovery Inc. Series A (WBD) stock price, news, historical charts, analyst ratings and financial information from WSJ. Zacks Rank Education - Learn about the Zacks Rank, Zacks Rank Home - Zacks Rank resources in one place, Zacks Premium - The only way to fully access the Zacks Rank. 326 E 8th St #105, Sioux Falls, SD 57103 Prior to Discoverys 2022 merger with Warner Bros., WarnerMedia, then owned by AT&T, agreed to pay nearly $1.7 million for exclusive streaming rights for each The Zacks Industry Rank assigns a rating to each of the 265 X (Expanded) Industries based on their average Zacks Rank. Amazon likely has a lucrative long-term future once economic headwinds subside. Adjusted earnings before interest, taxes, depreciation, and amortizationor Ebitda- came in at $2.6 billion, which was in-line with analyst expectations. Statement Concerning Forward-Looking Statements. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. I owned shares of AT&T common stock prior to the Closing Date. Discovery's investor relations website at https://ir.wbd.com . Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Discovery and raised his stock price target by $1.50 to $18. Its shares fell in after-hours trading. Talk about a change in tone! Well, AT&T is spinning off Warner Media, which will combine with Discovery (NASDAQ:DISCA) to form Warner Bros. 20 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Warner Bros. All rights reserved. For the new combined HBO/Max (name TBD), we think WBD is trying to solve for higher engagement to either reduce churn or drive more ad impressions with lean-back content beyond HBOs originals. Heres What to Know. Which Dollar Store, If Any, is Worth Your Investment Dollars? See Zacks' latest analysis free. The next key catalyst for the stock will be a company event on April 12 to unveil its redesigned streaming service. Discovery has a P/B Ratio of 0.76. Warner Bros. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. What is the market capitalization of Warner Bros. February 28, 2023|americanbankingnews.com, February 27, 2023|markets.businessinsider.com. Export data to Excel for your own analysis. 2023 InvestorPlace Media, LLC. The trading options that will be available during the two-way trading period are: AT&T Regular Way Trading February 26, 2023|americanbankingnews.com. P.O. Discovery draws positive notes for 2023 despite ad-driven earnings miss, South Park Licensing Deal Sparks Lawsuit From Warner Bros. Warner Bros. Discovery pay a dividend? What are the U.S. federal income tax consequences of the Transactions for AT&T and Discovery stockholders? View institutional ownership trends. Discovery, Inc. (WBD) Stock Price, News, Quote & History - Yahoo Finance U.S. markets closed (-0.30%) Dow 30 -232.39(-0.71%) Nasdaq -11.44(-0.10%) Russell On the closing date of the transaction, anticipated to be in April, AT&T shareholders will receive, on a tax-free basis, an estimated 0.24 shares of stock in Warner Bros. This option will be available under the temporary Nasdaq symbol "WBDWV". Warner Bros. When is Warner Bros. Who is on the senior management team of Warner Bros. To make the world smarter, happier, and richer. Cautionary Statement Concerning Forward-Looking StatementsInformation set forth in this communication contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Discovery, Inc., formerly Discovery, Inc., is a global media and entertainment company. Discovery is listed on the Nasdaq Global Select Market exchange, Warner Bros. Discoverys CUSIP is 934423104, WBD will only have one share class with each share having the same economic interest and voting power, Each share of WBD common stock will have one vote, Warner Bros. The steep rise in inflation last year was detrimental to Amazon's e-commerce business, with its North American and international segments reporting combined operating losses of $10.6 billion in fiscal 2022. Discovery trades on the NASDAQ under the ticker symbol "WBD.". DTC losses of $217 million versus our $580 million and Streets $534 million (estimates) were the clear highlight of the fourth quarter, he argued. Billions could be poured into exploration companies searching for new U.S. deposits. Discovery, Inc. to send you the requested investor email alerts. The company is scheduled to release its next quarterly earnings announcement on Tuesday, April 25th 2023. State of the Union - CNN. Persons reading this announcement are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date hereof. Discovery listed on? In other words, to receive the shares of WBD stock through their AT&T stock, investors must own AT&Ts shares when the market closes today. Discovery. Discovery's stock is owned by a number of retail and institutional investors. Additionally, the company's position in the cloud market with Amazon Web Services has become a major asset. Existing Discovery shareholders will own approximately 29% of the new company on a fully diluted basis. Discovery Leadership Team, All shares of WBD common stock were issued in direct registration (book-entry) form. Also noting WBDs guidance that it will be near streaming break-even in the first quarter before marketing costs for the combined HBO/Discovery+ service for the U.S. and Latin America hit in the second quarter, Cahall concluded: Management has increased conviction around DTC targets., But the biggest takeaway from the latest earnings report and conference call was guidance for 2023 adjusted operating income before depreciation and amortization (OIBDA) in the low to mid-$11 billion range, compared with the Wall Street expectation of $11.3 billion, continued strong free cash flow and a focus on debt reduction. Among his highly successful, contrarian picks have been PLUG, XOM and solar stocks. Discovery? What exchange is Warner Bros. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. For the best Barrons.com experience, please update to a modern browser. One share of WBD stock can currently be purchased for approximately $15.25. Their WBD share price forecasts range from $11.00 to $40.00. completeness, timeliness, or correct sequencing of any of the Information on Discovery, Inc. All trademarks are the property of their respective owners. The board of directors also declared an annual dividend on the companys Fixed Rate Reset Perpetual Preferred Stock, Series B, of 2,875.00 per preferred share. The estimated market cap for Discovery Announce Plans To Exit RSNs; Added With Bally Sports Puts Two-Thirds Of MLB On Edge, Warner Bros. The company ended the quarter with $49.5 billion in gross debt and $3.9 billion in cash on hand. This copy is for your personal, non-commercial use only. Discovery (WBD) Stock Is Coming. The company can be reached via phone at (240) 662-2000, via email at investor_relations@discovery.com, or via fax at 240-662-1868. Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements are the following: the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed transaction; the risk that the necessary regulatory approvals may not be obtained or may be obtained subject to conditions that are not anticipated; risks that any of the other closing conditions to the proposed transaction may not be satisfied in a timely manner; risks that the anticipated tax treatment of the proposed transaction is not obtained; risks related to litigation brought in connection with the proposed transaction; uncertainties as to the timing of the consummation of the proposed transaction; risks and costs related to the implementation of the separation of Spinco, including timing anticipated to complete the separation, any changes to the configuration of the businesses included in the separation if implemented; the risk that the integration of Discovery and Spinco being more difficult, time consuming or costly than expected; risks related to financial community and rating agency perceptions of each of AT&T and Discovery and its business, operations, financial condition and the industry in which it operates; risks related to disruption of management time from ongoing business operations due to the proposed merger; failure to realize the benefits expected from the proposed merger; effects of the announcement, pendency or completion of the proposed merger on the ability of AT&T, Spinco or Discovery to retain customers and retain and hire key personnel and maintain relationships with their suppliers, and on their operating results and businesses generally; and risks related to the potential impact of general economic, political and market factors on the companies or the proposed transaction. Discovery's (WBD) Q4 Earnings, Ad Sales Drop Y/Y, Warner Bros. Warner Bros. Warner Bros. How were my shares of WBD common stock issued? Cautionary Statement Concerning Forward-Looking StatementsInformation set forth in this communication contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Discovery's stock price today? The Companys actual results could differ materially from those stated or implied due to risks and uncertainties associated with its business, which include the risk factors disclosed in the Company's filings with the U.S. Securities and Exchange Commission, including but not limited to the Companys most recent Annual Report on Form 10-K and reports on Form 10-Q and Form 8-K. What did I receive in the Transactions? Neither AT&T nor Discovery is under any obligation, and each expressly disclaims any obligation, to update, alter, or otherwise revise any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future events, or otherwise. House of the Dragon - HBO. Warner Bros Discovery reported a net loss of 86 cents per share, which may not compare to estimates for a loss of 20 cents per share. This is our short term rating system that serves as a timeliness indicator for stocks over the next 1 to 3 months. https://www.barrons.com/articles/warner-bros-discovery-earnings-stock-price-614a38a8. Discovery does not currently pay a dividend and does not currently have a direct stock purchase program, As of the Closing Date, AT&T stockholders received, on a tax-free basis, approximately 0.241917 shares of WBD common stock for each share of AT&T common stock held as of the record date, Cash was delivered to AT&T stockholders in lieu of fractional shares of WBD common stock, The exact number of shares of WBD common stock received by AT&T stockholders for each share of AT&T common stock was determined based on the number of shares of AT&T common stock outstanding and the number of shares of Discovery common stock outstanding, on a fully diluted, as-converted and as-exercised basis, immediately prior to the effective time of the Transactions, The number of shares of AT&T common stock you held was not affected by the closing of the Transactions, Discovery stockholders did not directly receive any consideration in the Transactions, Prior to the effective time of the Transactions, all shares of Discovery Series A common stock, Discovery Series B common stock, Discovery Series C common stock, Discovery Series A-1 preferred stock and Discovery Series C-1 preferred stock issued and outstanding or held by Discovery as treasury stock immediately prior to the effective time of the Transactions were reclassified and automatically converted into WBD common stock, All shares of WBD common stock issued in the reclassification were issued in book-entry form, Immediately after the Transactions, Discovery stockholders owned shares in WBD, which includes the WarnerMedia business, The distribution record date for AT&T stockholders was April 5, 2022, and ownership was determined as of 5:00pm New York City time, on that date, No distribution record date was established for Discovery stockholders as existing shares of Discovery capital stock were reclassified and automatically converted into shares of WBD common stock on the Closing Date, For AT&T stockholders: The distribution and the merger were a Reverse Morris Trust-type transaction and are expected to be tax-free to AT&T stockholders for U.S. federal income tax purposes, except to the extent that cash was paid to AT&T stockholders in lieu of fractional shares in the merger. 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