Warner Bros. Discovery shares are trading higher after CNN CEO Chris Licht on Wednesday stepped down. Additionally, it was reported on Wednesday Amazon is planning to launch an ad-supported Prime Video tier and was holding discussions with the company and Paramount about adding ad-based tiers of their services through Prime Video channels.
Portfolio Pulse from Benzinga Newsdesk
Warner Bros. Discovery shares are trading higher after CNN CEO Chris Licht stepped down on Wednesday.
June 08, 2023 | 2:17 pm
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Warner Bros. Discovery shares are trading higher after CNN CEO Chris Licht stepped down.
The resignation of CNN CEO Chris Licht has led to an increase in Warner Bros. Discovery shares. As CNN is a subsidiary of Warner Bros. Discovery, changes in its leadership can impact the parent company's stock price. In this case, the market has reacted positively to the news, resulting in a short-term increase in WBD shares.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100