The Clap
Warner Bros Discovery (NASDAQ: WBD), the media & streaming firm that resulted from the merger between AT&T (NYSE: T) & Discovery Inc, made its NASDAQ debut on Monday.
Backstory
In May of 2021, Discovery & AT&T agreed to create a separate media business by merging, a $43 billion deal. That deal only closed last Friday, & the new business, Warner Bros Discovery, had its first trading day on Monday.
Why this matters
Warner Bros Discovery owns channels like HBO, CNN & the Discovery Channel, franchises like “Batman” & “Harry Potter”, & streaming services like HBO Max & Discovery+. It now sees itself competing against the likes of Netflix & Disney+.
