Warner Bros. Discovery (NASDAQ: WBD) has had a challenging 2022, so much so that the media company's stock is down 57% year to date. And while many businesses have seen their share prices dip this year, Warner Bros. Discovery has had a much bigger fall compared to rivals Netflix (NASDAQ: NFLX), which is down about 50%, and Walt Disney (NYSE: DIS), which down roughly 40% year to date.

Despite Warner Bros. Discovery's relative weakness in the market, there's reason to believe now may be a smart time to buy its stock. Let's break it down.

Warner Bros. Discovery was formed from the merger of WarnerMedia and Discovery that closed in April 2022. Six months on, the company has experienced a significant restructuring, which is all a part of CEO David Zaslav's plan to reduce costs by at least $3 billion over two years. Much of that strategy has played out in the form of job cuts and the axing of movies and shows.

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Source Fool.com