1 Green Flag for Warner Bros. Discovery and 1 Red Flag
Warner Bros. Discovery (NASDAQ: WBD) has had a troubling 2022, with its stock down 55% year to date. The company was the product of a merger between WarnerMedia and Discovery in April, leaving the company with considerable debt.
As a result, the entertainment giant has made several controversial changes to its content over the last few months, such as canceling multiple European projects, shutting down production on an all-but completed DC film after a $90 million investment, and shelving several animation series.
Investors have skeptically watched Warner Bros. Discovery's CEO David Zaslav slash the company's content and budget as he looks for savings. The result has dragged WBD's share price down further, falling 13% since Aug. 13 alone.
Source Fool.com
