WBD

stripykibbles

Quick fact check: HBO Max launched in 2020 after HBO was bought by AT&T. AT&T already owned Warner Brothers and combined it with HBO, leading to the rebrand to HBO Max. So it's inaccurate to say that McKinsey advised Warner Bros. Discovery to rebrand HBO to HBO Max, as Warner Bros. Discovery didn't exist in 2020. Maybe McKinsey advised AT&T on that name change too, but none of the figures in the tweet come from the Variety article it links to, so it's hard to say without extra research. It's also a vast oversimplification to say McKinsey advised that "Warner Brothers and Discovery should be separate brands again." It makes it sound like McKinsey was like "Oops, our bad, let's hit control+Z. Hehe!" In reality WBD is spinning off its linear TV networks into a separate company because linear TV is increasingly a thing of the past and a drag on the rest of the business. Some networks that originally belonged to AT&T's WarnerMedia, such as CNN, TNT, and TBD, will join networks that originally belonged to Discovery in being spun off into the new company. So basically WarnerMedia and Discovery merged into Warner Bros. Discovery, which is now breaking apart along different fault lines. It's not a referendum on the advisability of the original merger but rather a reflection of how the media landscape has shifted since then. They're not alone in making this decision, either. Comcast did the same thing late last year, spinning off networks such as USA, CNBC, MSNBC, and E! in order to focus on streaming with the Peacock platform, among other things. All of this was covered in the Variety article linked to in the original tweet. To be clear, I am NOT a McKinsey apologist and definitely think all the rebranding is stupid and dumb, and if these figures are true, it's wild McKinsey was paid so much to make stupid and dumb recommendations. It's just weird seeing a post gain so much traction when it has easily disprovable factual errors. But I guess that's the Internet for you. To anyone who read the entirety of this comment: I hope you enjoyed the extra context! 🙃

TheGreaterTool

Notice how Zaslav and other executives at WBD were not named in the tweet

halfcookies

Love those WBD options tho

bookaddixt

Technically it’s not WB, it’s discovery because they bought WB & their CEO became CEO of WBD

DayManMasterofNight

To be clear, McKinsey didn’t work with WBD. This is fake.

D1550N4NZ

If those figures are on the internet, they must be true, right? GPT fact-check: * Confirmed: McKinsey likely advised WBD during this period. WBD did rebrand HBO Max → Max → HBO Max, and the company is splitting into two * Not confirmed: The exact billing numbers ($55 M, $37 M, $63 M) and the specific timeline of advice haven’t been confirmed by either company—they remain rumor-level from social media.

escapemyfate416

Lately it’s been a lot of JBLU, AAL, WBD, and ACHR. But I’ve thrown in CCL, NCLH, PFE and a handful of others in the past. It’s a bit of a rotation, I’ll do these few for a while and then the other group will get me a bit more premium so I’ll swap them out. I don’t pay attention to the Greeks as I don’t buy the contracts back. I just let them play out however they do. If anything, I’ll occasionally throw in a buy of a further put and create a credit spread to hedge it if there’s particularly bad news that’s going to tank the stock but that’s only happened a handful of times and were ultimately not necessary.

IntrepidFarmer5666

WBD 10.9 PCG 13.9 UBER 90.9 CMCSA 34.9 EL 76.9 GOOGL 170.9 Isn’t it funny how all these stocks are stuck exactly with .9 ending? Almost like they are being held under a strike to cause theta decay  WBD is one of most active in NYSE and is perfectly FLAT #SCAM MARKET 

AlohaTrader

That varies on how the company is split apart and typically follows what corporate actions are done to its division of shares. For example, when $T did their spinoff of $WBD in April 2022, shareholders received partitions of shares in both companies. Options works the same as the previous example but now in both companies (in this scenario). Typically users see a selloff of options before the split as liquidity may become an issue post-split.

IntrepidFarmer5666

WBD they brought it over 11 they sold calls then hold at 10.8 to destroy theta 

DoctorCashhh

WBD seems to have HUGE potential in a Trillion$ market. What does everyone think? It’s cheap & they have BIG BIG cash.

DoctorCashhh

What do u guys think of WBD? I think the potential is HUGE in a Trillion$ market they’re in

kalakesri

This is all part of the superman rollout. 🥭 has calls on WBD

IntrepidFarmer5666

CMCSA 35.25 IREN 10.25 WBD 10.25 PCG 14.25 GOOGL 176.8 UBER 85.8 CLSK 9.8 QUBT 17.8 BVN 16.8 QSI 1.8 IQ 1.8 How the fuck is everything literally everything pinned to these cents  EXACTLY in the middle of option strikes 

IntrepidFarmer5666

RIOT 10.25 WBD 10.25 PCG 14.25 IREN 10.25 EVGO 4.25 CMCSA 35.25 Every single stock is consolidating exactly  in the middle of the only available option strikes 

IntrepidFarmer5666

WBD premarket 10.3 WBD 30 min after open 10.8 WBD 2 hours after open 10.3 😆

765cc_Triple

Prally DIS buying the rest of Hulu and WBD split.

MakingMoneyIsMe

I unloaded WBD the day of the spinoff. I figured if T didn't want it, I shouldn't either. This pending spinoff shouldn't be much different.

dvdmovie1

I've argued against owning WBD on here since it was spun out of T and completely don't understand why people have continually wanted to try and call bottoms all the way down. You have a company that did a merger with Discovery in 2022 only to de-merge in 2025 as all of these media companies dump and/or write down the value of their cable channels. The amount of effort put into re-designing the MAX logo and/or deciding whether it should be Max or HBO Max is ridiculous and shareholders have paid Zaslav an absurd $140M over the last 3 years alone while the stock has declined nearly 70%.

dvdmovie1

In 2022, McKinsey was paid $55M to advise Warner Brothers to combine with Discovery. In 2025, McKinsey billed Warner Brothers Discovery an additional $63M to determine that Warner Brothers and Discovery should be separate brands again. From 2022-2025, McKinsey charged Warner Brothers Discovery $37M by advising the company to change HBO to HBO Max, then to Max, then back to HBO Max. Zaslav has been paid about $140M over the last 3 years alone while the stock has declined nearly 70% during that period. I've been negative on the stock on here since the spin off and while it may bounce at times I still don't understand why people are eager to invest in this. It's a poorly run company in an industry that has never really delivered for shareholders (PARA currently at $12 after IPOing at $10 ... in 1990.) In this case, WBD turns into two companies: one that will continue to be misnamaged by Zaslav, the other a bunch of declining assets and probably a lot of debt thrown in.

No_Philosopher_1870

When a company splits into two or more entities that are publicly traded, you get some amount of stock im each of the entities depending on HOW it splits. Maybe Warner Brothers will be 70% of the split and Discovery 30%. You may also be offered the opportunity to get cash in lieu of stock for some portion of it or if the split results in a fractional share of one of the new companies. Between now and mid-2026, when the split is supposed to be completed, you are playing news and volatility. You can start looking at the SEC filings for WBD, which will eventually include the tender offer for the spinoff.

Voaracious

Is that even legal? If I was holding a WBD bond I'd be **furious**. Cable is the declining part. It looks like a setup to bankrupt my bonds and not pay me. 

ntjm

Should be a step in the right direction for Warner Bros Media (my guess for the new company name). But this means the 2022 merger was a complete failure. Zaslav will be walking on thin ice going forward. I have a small holding in WBD so this should be interesting.

sjt-at-revelata

Long WBD, I hear they're going to buy a bunch more TV channels once they have some cash freed up

Overlord1317

> ... if that's the purpose of this, then why couldn't WBD just find a buyer for those assets and avoid wasting time spinning it off into it's own separate company? Because they believe the assets are far more valuable than what would be realized in an asset share, and that the stock price is being suppressed by the debt. I think they're right on both counts.

No_Feeling920

This is exactly what I did on day 1, after receiving WBD stock split off from my T position - I immediately sold WBD (the shit side) and kept T (had to wait a couple years for it to finally rip, though).

usernamesarelame4eva

Content is king. And WBD has it. I think in the end ther will be four: Netflix, prime (because why not, but everyone knows it's shit), wbd and Disney. I'll take those chances.

ExcitedPriest

You're spot on with this one it's almost like the shareholders suffering from T splitting WBD to WBD possibly splitting the value again and again and again the share price goes all the way down like it's testing the endurance of the holders.

WickedSensitiveCrew

Not enough info to give forward looking statements that may come off as positive. The info is toward giving forward looking statements that are negative such as they will go bankrupt. WBD has a terrible CEO. They did try to sell one part TVN but no deal happened.

anonymous_amanita

I think the strat is to have owned T before they split off WBD so that you lost a ton of money on the tanking WBD shares that now might split again and have half of that tank again. Oh, your strat was to make money? Nvm.

reaper527

> Can I ask which are the red ones? T, MO, AAPL, TKO, WBD

reaper527

wow, WBD flipped HARD after that split excitement this morning. 10% up this morning, 4% down now.

ShadowLiberal

... if that's the purpose of this, then why couldn't WBD just find a buyer for those assets and avoid wasting time spinning it off into it's own separate company?

dvdmovie1

Discovery merges with Warner Brothers which merges with T which spins off WBD which now...is essentially splitting off Discovery again.

IntrepidFarmer5666

WBD is the perfect example of how they manipulate the stock price to decay theta  Look at the 10 day chart I have held long 10c since before the original pump and was down 30 perc on calls I bought when it was 9.5 Notice how they won’t let it go close to 9.5 or back above 10 .8 is the the magic theta burning number you will see just about every stock pinned with this decimal the only way to win is to always have more time and average down  Maximum scam market 

IntrepidFarmer5666

WBD 9.8 -> 11 -> 9.8 😂 Not 9.5  Not 10 9.8 Fuck your theta!!!!

Individual-Habit-438

WBD isn't even going to scratch out a green day today. Value investing is 1000% dead and it's ALL trend chasing anymore.

TomatoSpecialist6879

That's because WBD's decisions stems from leadership incompetency, Disney's decisions stems from hatred of common folks.

WickedSensitiveCrew

Now that they are separate companies you dont have to keep both. When T and WBD split T owners sold and stopped thinking about WBD. When this split happens those that own the two companies can sell the networks and just focus on the streaming company.

Morocier

I've been bagholding WBD since it split off from T. And you think I'ma let you clutter up my port even more?! Exit opportunity!

IntrepidFarmer5666

Look at WBD stock price over the last week perfectly held at 9.8 the entire time crushing theta from both 9.5 and 10 strikes  My 10c for July were down 30 percent having bought at the same price but because of them holding perfectly between strikes it doesn’t matter what option you have  This manipulation happens with every single stock look at QUBT today same story 

Independent-Tree-985

So do I buy WBD, or wait and just buy one of WB or D?

Independent-Tree-985

So do I buy WBD, or wait and just buy one of WB or D?

Early-Ad-5814

Why WBD? And PMCC or wheel

Saelaird

For $1k? WBD. But Ford is a nice practice stock and solid little option. I wheel it up to quarterly reports, and just after.

tfresca

Who? CBS is trying to get the fcc to approve a merger, they need Trump. Trump is suing 60 for defamation. NBC /Universal is spinning off its assets and likely need government approval. ABC does business worldwide and already settled a defamation suit by putting money in his pocket via presidential library. WBD wants to spin off and or be sold various assets and the ceo is Republican and wants to make friends with the administration. Nobody wants to stand up for anything.

moutonbleu

WBD - I keep thinking it’s undervalued vs Netflix and other streamers. It’s IP!!! Come on, Zaz

Helios330

Sorry, but fubo & WBD maybe, but I’m not selling my WBD lol

Helios330

WBD: Trading under book value, I like the IP, and I like HBO Max GOOGL: AI Trade RDTL: AI Trade and hoping numbers get pumped in the upcoming quarter with the recent changes to google search WRB, CMC, NOMD: stock I like, but don’t really care to buy more than a share of rn (just don’t wanna forget about them completely lol) TSLA, LYFT: Waymo is going to be the nail in the coffin for both of these. I am shorting both. Also, all recent global Tesla sales info looks horrendous

InvisibleEar

Aw, shareholders rejected Zaslav's request to be paid $50m. Where's the appreciation for WBD going from $30 to $10?

dont_downvote_SPECIL

David Zaslav is the most overpaid CEO ever Wants $50 million and WBD stock down 60% in the past 5 years lol 🤡💩

Narrow-Yard-3195

Does this have anything to do with WBD losing the NBA, sentimentally, for you?

xvvxvvxvvxvvx

As someone who played the shit out of TLOU, I’m so impressed with how true to game season 2 has been. But the actress for Ellie is forcing me to buy puts on WBD

Individual-Habit-438

WBD is down about 70% since 2022. Even AT&T stock (which it was spun off from) has gone up.

elgrandorado

Geniuses over there at WBD. I never understood why they thought it was a good idea to diminish the HBO brand by bundling it they way they did, then hiding it. Now they're reverting the name back to where it was before. The name HBO Max was fine, but slapping mediocre content with the HBO moniker was idiotic. Then they course corrected by splitting off HBO content within the Max app, which was a good thing, but some damage had already been done.

WickedSensitiveCrew

WBD to rebrand Max as HBO Max. I never stopped calling it HBO Max lol.

natalie_merchant_fan

I think there will be industry consolidation. I like WBD but acknowledge there's risk with their high debt.

Th3rdLegger

I was one to believe that the synergies would benefit the merger. Also having the expertise of an experienced media company would help elevate the HBO Max brand. It obviously did not work out that way but is Netflix really a better value than Max? Is Netflix stock really better than WBD by over $1000 a share?

Th3rdLegger

This is a very good explanation of the difference between the streaming services mentioned. I see your point on companies like WBD possibly driving potential customers away from themselves when making content for other streaming services such as Netflix. I know it’s a revenue stream when they make the content for others but it doesn’t seem like a good longterm strategy for WBD. I enjoy the quality of WBD compared to other services but it doesn’t mean it’s the same for everyone else because it seems like they prefer quantity.

dvdmovie1

> I just don’t understand why Netflix is trading over $1000 a share and stocks like WBD or DIS are much cheaper. PARA is up about 21% since going public.... in 1990. That is not a good record and if you look at the long-term record of Warner all the way back before the spin to the original IPO, it's not good either. Smaller pure play media cos (LGF.A, AMCX) have been obliterated since they went public. You had a business that was entirely hit driven and very cyclical. Now you have a business where the cable channels - which used to be at least a decent business - have become melting ice cubes and have either been spun off (Comcast, where they only kept Bravo) or have resulted in billions of dollars of write-downs. Last year: "During their second quarter earnings report on August 7, Warner Bros. Discovery announced an $11.2 billion including a $9.1 billion write-down for their linear cable TV networks. Besides the struggling linear cable networks, WBD cited the potential of losing the NBA as another reason. The WBD also reported a $2.1 billion of “pre-tax acquisition-related amortization of intangibles, content fair value step-up, and restructuring expenses” (https://www.forbes.com/sites/bradadgate/2024/08/09/as-linear-tv-loses-revenue-wbd-takes-a--91-billion-write-down/) So you have a media business that used to make a lot of money on network/cable channels and those audiences have eroded away. In terms of movies, it seems like every movie costs $200M now, so that much more difficult to actually make money. Everyone of these companies thought they could be Netflix but they can't, so you have all these companies with their streaming services (Paramount+, Max, etc) that are not the businesses they wanted them to be so they are now thinking more about licensing to Netflix. Well, if you're licensing the good stuff to Netflix, that's taking offerings away from the streaming service that already isn't the business you'd hoped. There is value in the vaults but 1) I don't think it's as much as people think it is and 2) having a CEO like Zaslav isn't doing anything for the value of the IP. Zaslav is absolutely one of the most overpaid CEOs in the country. It's extraordinary what WBD pays him and what PARA paid both Bakish and the three co-CEOs that came after him. So, yes, maybe there is a point where these names get cheap enough that there isn't much downside but the continued interest in these names on here in terms of the businesses themselves I don't get at all.

dvdmovie1

Did it do well when box office was great (Barbie making a billion in 2023?) Nope. Pure play media names are not good businesses. People on this sub have continually tried to buy the dip on WBD all the way since the spin off from T. At some point perhaps they get cheap enough that there's not materially more downside, but I wouldn't be excited about the upside, either.

ShadowLiberal

WBD has a TON more debt then Netflix, which is definitely weighting the stock down. Long story short, Zaslav clearly overpaid for the WB assets from AT&T.

Th3rdLegger

Hopefully the momentum continues. I just don’t understand why Netflix is trading over $1000 a share and stocks like WBD or DIS are much cheaper. I know Netflix has more subscribers but even so should they at least be half of what Netflix is trading

Individual-Habit-438

What a reversal for WBD, which dumped 6% on this morning's ER, then shot to the moon Looks like we're weighting 5 million more Max subs over declining revenues from cable and ads

Individual-Habit-438

WBD making substantial moves upward after earnings and an initial dump That stock has been beaten up so badly by the tariff drop that barely affected it

Individual-Habit-438

Glad I closed my WBD short before it decided to rip instead

curious_skeptic

WBD. I'm just really impressed by the quality of HBO's programming. I think the stock has a bright future, as it pays off its massive debt-load and picks up new subscribers.

Ok_Application963

WBD. And it’s up for me!

cxr_cxr2

These Disney figures are quite reassuring for WBD as well, actually. It seems that streaming is starting to make up for the steady revenue decline from linear channels.

natalie_merchant_fan

Long WBD reports tomorrow

FawningDeer37

What are you making? A reality show? Sure that could work but you’d be better off trying some side office at WBD. Netflix won’t bite on that though.

Turbulent-Beauty

So, WBD, PARA, DIS, and NFLX could be affected by this. Any other stocks?

Ancient_Sun_2061

I did…Did you? You selectively picked a specific movie which was approved and you ignored the rest of the article which clearly says imports of Hollywood movies are being curbed. “It was not clear if China would approve the entry of other major releases this summer, such as Paramount’s (PARA.O), opens new tab “Mission Impossible — The Final Reckoning,” which may mark Tom Cruise’s last appearance in the long-running franchise, Warner Bros’ (WBD.O), opens new tab new “Superman” movie from “Guardians of the Galaxy” filmmaker James Gunn, and Marvel’s new take on “The Fantastic Four.”

gatovision

NFLX is so pumped right now, almost $500B mcap but i think their content is stagnant and one of the worst of all the streamers. Streaming is just so fragmented now, its so difficult just to sit down and find a decent movie/show to watch without scrolling through so much shit. Some studios need to combine and take on Netflix. WBD and PARA should merge, HBO with Paramount would be a good service.

Girth-Brooks_

WBD forgot its an American company 

icein2017

WBD gotta be the next move after 🥭tweet

Individual-Habit-438

how's it any different from WBD's business model, except for debt?

Girth-Brooks_

Please god tell me WBD makes their movies in America..

anywhoaroundhere

It can feel that way. My weekly CCs on WBD net $8-10, but that’s $400 annually which isn’t nothing. Consider it my penance for not selling these shares years ago.

derprondo

Puts on $WBD because they are fucking retards if they think I'm going to pay for a CNN subscription LMAO. I'll just stick with Reuters and APNews.

Salt_Yak_3866

valid concern for sure .I did a little research on that very topic amd they are leveraging streaming options now. for that matter, so are GTN ,,PARA and WBD etc. NFLX showed them how to make money, and now all are rushing to copy Netflix

blitzlurker

DCAing into AMD/WBD/WMT (yes I’m boring)

dont_downvote_SPECIL

Lol AEW advertising on CNBC now 🤣🤣🤣🤣 Puts on WBD Buy more TKO!! John Cena's retirement tour is recession & tariff proof!

Mithril1991

I now do buying stock leg, write put, write call, at near ATM, shirt term. Basically short strangle with stock. If assigned in put, next I write call X2. I am doing this only outside of core position in stock I believe in. E.g. I have 200 core in WBD, and do this strategy weekly. Just for money collection. If I have to buy more at lower price, I tax lot some positions, but I always try to sell above my bep.

WickedSensitiveCrew

SKYW is interesting. I would never personally would buy an airline. I been adding to WBD. I think some might feel the same about media companies avoid those. But for some reason things have gone silent on WBD at a time they have two hit movies in theathers and had another hit show in The Pitt.

natalie_merchant_fan

WBD 10 call May 16

ReallyGottaTakeAPiss

I’m long a tiny bit on WBD. They really need to cut debt and expenses more than they have been. They also need to rethink how they use their IP in an increasingly competitive video game industry and stop focusing on absurd MTX in an inflationary environment. MTX doesn’t work if the game goes offline (Multiversus….). They need to focus on user retention with quality and stop fucking around with mobile game MTX bullshit.

gatovision

NFLX valuation is really becoming a joke. content is stale, its geared for teens now. Couple of these other streamers need to merge and compete. WBD (HBO) and PARA would be a better service.

callsonreddit

Highlights * TV ads may collapse if recession hits, mirroring newspapers' decline * Ad spending could drop $45B; $12B hit to TV, $29B to digital * Meta, Snap, Trade Desk may drop 30%+ * Netflix, Alphabet better positioned * Roku, Paramount, Disney, Fox, WBD may see major earnings declines * Tariffs, trade uncertainty worsening outlook

ElectricalGene6146

So that makes Netflix worth 400B and WBD worth 20B? Max is a staple on most TVs these days.

ElectricalGene6146

That’s a very simplistic take. There’s room for multiple streaming services. It’s not a winner take all market, and the numbers do back up WBD being very successful once they restructure and get their finances more in line.

rpthrowah

WBD doesn't stand a chance against Netflix. Nothing will save the competition unless they strike some crazy deals among themselves.

eyepopp

$WBD has to go up with NFLX, I think …

ElectricalGene6146

I’m just hoping WBD follows…. Max has been crushing it and I barely know anyone without a sub these days…

Individual-Habit-438

I bought a bunch of calls on WBD because it's been crushed by the tariff crash even though it makes almost no physical products. From 11 down to 8. NFLX could cause a sympathy rise today if their report is good. I picked the 8.5 and 9c for May 9 expiry because it's a day after their ER. Last WBD earnings sent the stock ripping upward into the 14s until market turmoil dragged it down.

SometimesTea

Any other retards bullish on $WBD, or just me? I'm not thinking of options, but I kind of want to put it in my DCA at that price. Weren't they planning on selling IP?

Educational_Bag_1923

Is $WBD a buy at $8?

Individual-Habit-438

Seriously, calls on WBD. I follow the stock closely and it's been beaten up too much by the recent drop for a company that makes almost no physical products.

mcs5280

Look on the bright side guys at least we will get to watch Don Jr. Cocaine Hunter on Discover Channel. Calls on WBD.

gatovision

Also “were going double our revenue by 2030” and stock pumps $60. Yeah thats every company’s goal. Their content is stale. WBD (Max) and Paramount need to combine, would be a better service.