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Warner Bros. Discovery (WBD) stock plummeted by around 15-16% as CEO David Zaslav warns of a 'generational disruption' to media and a weak U.S. ad market. The company's chief financial officer highlighted the continued weakness of the ad market, leading to uncertainty about recovery. The financial impact of a strike risks spilling into 2024, with potential M&A activity. The media industry is experiencing workforce cuts due to the persistently weak ad market, particularly affecting premium publishers.
Media companies are cutting their workforces. The ad market recovery seen at Big Tech firms is not hitting premium publishers. Recent earnings reports from digital media companies show how weak the ad market has been for them. https://t.co/RGBJDnH59L
Are we beginning to see signs that David Zaslav & Co. are turning the Warner Bros. Discovery battleship around? @WilliamCohan explains why the markets misread WBD’s Q3 earnings. https://t.co/P1Z0pK8fWx
Warner Bros. Discovery plunges 16% as CEO warns of 'generational disruption' to media https://t.co/XZXEh9BhfU
Investors bid down shares of Warner Bros. Discovery today as its chief financial officer described a U.S. ad market “that has continued to be weaker than we had hoped” and a recovery that’s hard to predict (click photo below for story) https://t.co/aLEg1P1MRc https://t.co/HPF4KHXygx
$WBD Warner Bros. Discovery stock sinks 15% as ad revenue falls, Zaslav warns of ‘generational disruption’ https://t.co/ckiX9KBCsB https://t.co/BkBCOCinGu
Warner Bros. Discovery Says Strike's Financial Impact Risks Spilling Into 2024; CEO David Zaslav Hints At M&A - “We Could Be Really Opportunistic" https://t.co/aMdMlnp4vS
Warner Bros. Discovery stock plunges as weak ad market clouds 2024 outlook https://t.co/XsjJ0Kd66D 🔻 $WBD -15.98% https://t.co/8PyjtLjBwt