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.