What’s the Path for Warner Bros. Discovery After Dismal Earnings, Sunk Stock Price and Shrinking Options? | Analysis

Warner stock has sunk by 70% since its April 2022 merger with Discovery, and Wall Street is calling on the David Zaslav-led media giant to explore strategic alternatives, such as asset sales

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Sharon Waxman
David Zaslav
Warner Bros. Discovery CEO David Zaslav (Illustration courtesy of Getty Images/TheWrap/Chris Smith)

With Warner Bros Discovery’s stock price hovering near a 52-week low and a humiliating second quarter earnings in which the company took a $9 billion write-down on its linear assets, CEO David Zaslav needs to make a move to shift the fortunes of his listing entertainment conglomerate.

The question is: What moves are left? 

The stakes are high. Zaslav has presided over a stunning 70% decline in the company’s stock price since the April 2022 merger between WarnerMedia and Discovery. And now WBD is on the brink of losing a massive NBA deal to competitors Amazon and Comcast, which will negatively impact lucrative cable carriage deals.

Lucas Manfredi

Lucas Manfredi joined TheWrap in November 2022 after four years at Fox Business. He can be reached at lucas.manfredi@thewrap.com.
Sharon Waxman

Sharon Waxman

Sharon Waxman, is the founder, CEO and Editor in Chief of TheWrap. She is an award-winning journalist and best-selling author, and was a Hollywood correspondent for The New York Times. Twitter: @sharonwaxman

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