Following last year's merger between Discovery and AT&T's WarnerMedia business, the new Warner Bros. Discovery (NASDAQ: WBD) has a wealth of intellectual property to monetize. The merger brought The Lord of the Rings, Game of Thrones, Harry Potter, Batman, Superman, Wonder Woman, CNN, TNT, Discovery Channel, and Looney Tunes together under one roof.

Warner Bros. Discovery clearly has a valuable library of content to monetize and then deliver returns to shareholders. These opportunities have value investors wondering whether the stock's haircut last year makes it a bargain worth buying right now.

While I'm hesitant to call the stock a buy due to the company's dependence on TV advertising and its heavy debt burden, the success of Warner Bros. Games' latest release makes it worth a closer look. Here's why gaming is an overlooked growth opportunity that could make the stock a good investment under the right scenario.

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Source Fool.com