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Warner Bros. Discovery is exceeding deleveraging guidelines, but the market is not giving management credit for it. The market reacted negatively to the net loss due to noncash charges, but it does not change the cash generation future of the overall acquisition story. Cash flow and free cash flow are growing despite market conditions, but the market is not paying attention to it.
Plug Power recently issued a "going concern" warning, helping to send the stock into a tailspin. Medical Properties Trust cut its dividend this year, but its yield remains high due to a falling share price.
Warner Bros. Discovery stock has been hammered on long-term concerns surrounding its money-spinning Networks segment and its nascent, barely profitable direct-to-consumer offering. Recent numbers look weak but are noisy. While a renewal of its NBA broadcast deal would weigh on costs, they would not spike immediately. Free cash flow generation remains robust and the stock looks materially undervalued, warts and all.
Warner Bros. Discovery's (WBD) Max introduces a Black Friday promotion for new subscribers.
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Add Walt Disney Co. DIS and Warner Bros. Discovery Inc. WBD to the growing list of major brands pausing advertising on Elon Musk's embattled X.
Warner Bros Discovery Inc (NASDAQ:WBD) CEO David Zaslav said he does not regret the concessions made by the Alliance of Motion Picture and Television Producers to end the Writers Guild of America's (WGA's) almost 150-day strike but implied that the writers were being paid too much for their work. “They are right about almost everything,” the CEO told The New York Times Magazine in a profile published online on Wednesday.
Paramount Global (NASDAQ:PARA) got a boost in its South Park legal battle with Warner Bros Discovery Inc (NASDAQ:WBD) in a ruling by New York judge Margaret Chan. With Warner Bros having sued Paramount in February to try and enforce exclusive streaming rights to South Park on its HBO Max platform.
The judge's ruling leaves intact parts of Warner Bros. Discovery's lawsuit over a "South Park" streaming deal.
Like many highly indebted businesses, Warner Bros. Discovery has been trading in tandem with long-dated treasuries. While correct at first sight, a deeper look reveals how wrong this association is in this specific case. Effectively, if interest rates stayed high or increased from here, Warner Bros. Discovery could even profit.