Where Will Warner Bros. Discovery's Stock Be in 5 Years?
Last year was a challenging one for Warner Bros. Discovery (NASDAQ: WBD). The entertainment giant was formed in April 2021 by the merger of WarnerMedia and Discovery, and its share price has underperformed the S&P 500 ever since. But with Warner Bros. Discovery's leadership making plans to strengthen its position in the streaming industry, where might its stock be headed over the next five years?
Warner Bros. Discovery spent much of last year reducing costs as part of an effort to save at least $3 billion. Under the stewardship of CEO David Zaslav, it cut jobs, axed projects, and pulled TV shows such as Westworld and movies such as The Witches from streaming.
Fortunately for stakeholders (and fans of Warner Bros. Discovery's content), the company recently signaled another shift. "[W]e're done with that chapter," Chief Financial Officer Gunnar Weidenfels said during a recent Citibank conference. "[2023] will be a year of relaunching and building."
Source Fool.com
