What's Going On With Warner Bros. Discovery Stock Thursday?
Portfolio Pulse from Dylan Berman
Warner Bros. Discovery (NASDAQ:WBD) shares are trading lower after Liberty Global announced its intention to acquire WBD's stake in Formula E, increasing Liberty's ownership to 65%. The deal is expected to close by the end of the year, pending regulatory approval.
June 13, 2024 | 5:24 pm
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Warner Bros. Discovery shares fell 6.02% following Liberty Global's announcement to acquire WBD's stake in Formula E. The deal, pending regulatory approval, is expected to close by year-end.
The sale of WBD's stake in Formula E to Liberty Global reduces WBD's asset portfolio, which may concern investors about the company's future growth prospects. This has led to a 6.02% drop in WBD's share price.
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