TickerTalks
Browse all tickers →
TickerTalks›$WBD
WBWBD

Warner Bros. Discovery, Inc.

$WBD·$65B·Entertainment·Communication Services
$25.61+1.3%YTD-10.5%1Y+86.9%
Mentions · last 7 days
2026-07-22: 70 posts2026-07-23: 53 posts2026-07-24: 115 posts2026-07-25: 44 posts2026-07-26: 53 posts2026-07-27: 114 posts2026-07-28: 80 posts534+13%
Price updated 15h ago·X counts updated 13h ago
WBWBD
$WBDWarner Bros. Discovery, Inc.
$25.61+1.31%534 posts+13%
AI analysisFundamentalsVoices on X
Loading…

AI verdict & sentimentAI analysisGenerated by AI from underlying data

Top X posts

Today's AI verdict on what's driving $WBD, plus how loud the X conversation is and which way it's leaning.

AI analysis

TickerTalks’ read on the fundamentals and what’s driving the move.

Hinges on a big eventCooling offAI verdict · as of 2026-07-28

Catching its breath after a run — could pick back up or fade from here.

Media conglomerate up 85% TTM but the Paramount merger just got frozen until 2027 — Zaslav sold $59M of stock two weeks ago.

Warner Bros. Discovery is a global media conglomerate — studios (Warner Bros. movies, HBO), networks (CNN, TNT), and direct-to-consumer (Max). It has been in continuous strategic motion since the 2022 merger, and the pending Paramount Skydance merger was supposed to be the closing chapter — until a state AG injunction just froze it until as late as June 2027.

  • The Paramount merger legal freeze is the load-bearing event: the state-AG-led injunction has pushed the merger completion timeline into potentially June 2027 despite EU conditional approval, and the arbitrage spread widened materially on the news — this is real deal risk, not a technicality.
  • The Zaslav insider selling is a very real dollar signal: CEO David Zaslav sold 2.18M shares at $27.22 on July 13 for $59.5M net after exercising 4.18M options — this is not routine 10b5-1 activity, it's a founder-CEO taking chips off the table two weeks before an August 6 print and while the merger overhang is intensifying.
  • The say-on-pay rejection at the June AGM is genuine shareholder unrest: shareholders voted DOWN the say-on-pay proposal in the middle of a major merger negotiation, a rare governance signal that says institutional investors don't like the risk-reward on how management is being compensated.
  • The $13B credit refinancing is the balance-sheet positive: the June 4 conversion of the $15B bridge to permanent seven-year senior secured debt at SOFR+2.5% removes near-term refinancing risk — a legitimate improvement that partly offsets the merger uncertainty.

The August 6 Q2 print is the near-term catalyst — the DTC subscriber trajectory and any updated commentary on the Paramount merger structural remedies matter more than the EPS number. What would break the setup: Paramount merger structural divestitures (cable-net spinoff) being required, since that fundamentally resets the pro-forma cash flow the deal spread is pricing today.

Agrees with X sentimentThe bearish framing around the merger legal freeze extending into 2027, the widening deal spread despite EU conditional approval, and the structural-divestiture concerns match the actual court docket and press coverage — what the X sentiment is right to call out but doesn't fully price is Zaslav's $59M July 13 sale, which reads like insider expectation-setting for a bumpy merger path.

What to watch: The Aug 6 Q2 print — DTC subscriber trajectory and any updated Paramount merger structural-remedy commentary matter more than the EPS. What would break the setup: structural divestitures (cable-net spinoff) being required, since that fundamentally resets the pro-forma cash flow the deal spread is currently pricing.

On the calendar: 2026-08-06 — Q2 2026 earnings

X sentiment

What the X crowd is saying right now — descriptive, summarised from the day’s posts.

Mixed sentiment⚠54 posts analyzed · as of 2026-07-28 · top-engagement diverged

Warner Bros. Discovery's proposed $110-111B acquisition by Paramount Skydance received EU conditional approval but was frozen by a US state AG lawsuit until at least August 17 and could be delayed to June 2027 pending trial. Bulls note the arbitrage spread paying ~20% to wait plus $650M/quarter ticking fees, EU market-definition properly capturing streaming vs linear, and WBD's $3.1B FCF versus PSKY's $353M. Bears warn Paramount may owe ~$7B/yr in net interest and could default within two years, and highlight the deal-restructure risk. It is genuinely a merger-arb tape rather than a directional sentiment.

Read the AI verdict + X sentiment for $WBD

  • One-line verdict on what's driving the move — fundamentals, momentum, both, or an event
  • Next dated catalyst when there is one (earnings, deal closing, activist clock)
  • X crowd read with bullish/bearish call + post volume
Free, forever. No credit card.

What it does

Plain-English summary of the business — what they sell and how they make money.

Global media conglomerate operating the Max streaming service, CNN, HBO, and major film and TV production studios.

Industry overviewAI analysisGenerated by AI from underlying data

Where Entertainment sits in its cycle right now — and what that implies for $WBD.

Entertainment · Communication Services

No material change from last week — NFLX's global TV network model (ad tier expansion, password sharing crackdown) has stabilized margins while box office has its best summer since pre-pandemic..

What this means for $WBD

Partial — Global media conglomerate operating the Max streaming service, CNN, HBO, and major film and TV production studios; partial earnings exposure to entertainment demand dynamics through its product portfolio.

Industry benchmark

9-name peer basket
+15.9%YTD
-16.6%1Y

Fundamentals & catalyst

Profitability, valuation, and the next earnings event — at a glance, with rule-of-thumb signals.

Key ratios

P/E
-38.7How much investors are paying per dollar of profit the company actually earned in the last 12 months. Lower means the stock looks cheaper relative to earnings.~15–25 is typical for the S&P 500; high-growth names trade 30+; hyper-growth or speculative can be 100+ or negative.
ROIC
1.8%What percentage return the business earns on every dollar of capital (equity + debt) deployed in operations. The cleanest measure of business quality.Above ~15% is high-quality; consistently above 25% suggests a real moat. Below the company's cost of capital is value-destroying.
Op margin
4.1%Operating profit (after sales, marketing, R&D, and overhead but before interest and taxes) as a percentage of revenue. The clearest view of how well the underlying business is run.Mature business above 20% is healthy; software businesses can run 30%+; commodity / retail businesses operate in single digits.
FCF yield
3.4%Free cash flow (operating cash flow minus capex) divided by the company's market cap. The cash-on-cash return you'd get owning the whole business at today's price.Above ~5% is attractive; below ~2% means you're paying up for growth. Capital-light businesses (software) run higher than capital-heavy ones (utilities).
P/S
1.8Same idea as P/E but per dollar of revenue. Useful for companies that aren't profitable yet, where P/E is meaningless.Under ~2 is cheap; software / SaaS often runs 8–15; well above 20 implies the market is pricing in very high future growth.
ROE
-4.9%Net income as a percentage of shareholders' equity. Similar to ROIC but counts only the equity side.Above 20% is strong, but can be inflated by leverage — a heavily indebted company can show high ROE with weak underlying ROIC.
Gross margin
41.5%Revenue minus the direct cost of producing what was sold, as a percentage of revenue. The first read on whether the product is structurally profitable.Software / SaaS is typically 70%+; consumer goods 30–50%; commodity / hardware businesses can be under 20%.
D/E
0.0Total debt divided by shareholders' equity. Measures how much the business runs on borrowed money versus owner capital.Under 1 is conservative; 1–2 is typical for mature businesses; over 2 is leveraged and more sensitive to interest rates.

Past earnings

QuarterReportedActualEstimateSurprise
Q1 2026May 6, 2026$-1.17$-0.11-975.4%
Q4 2025Feb 26, 2026$-0.10$-0.03-209.8%
Q3 2025Nov 6, 2025$-0.06$-0.07+11.6%
Q2 2025Aug 7, 2025$0.63$-0.24+362.8%
Next earningsThu, Aug 6·consensus EPS $-0.12

Quarterly trend

QuarterRevenueYoYGrossOpEPSFCF
Q1 FY26$8.9B-1.0%47.8%6.2%$-1.17$-476.0M
Q4 FY25$9.5B-5.7%30.2%5.7%$-0.10$1.4B
Q3 FY25$9.0B-6.0%49.5%6.8%$-0.06$701.0M
Q2 FY25$9.8B+1.0%39.2%-1.9%$0.64$702.0M

Forward consensus

5-year forecast · up to 15 analysts
FYRevenueRangeEPSRangeAnalysts
FY26$36.9B$36.1B – $38.2B-$1.32-$1.98 – -$0.2315
FY27$37.8B$36.9B – $39.2B-$0.06-$0.99 – $0.5415
FY28$38.2B$38.1B – $38.3B$0.10$0.05 – $0.1815
FY29$38.4B$37.2B – $39.8B-$0.37-$0.38 – -$0.3511
FY30$39.1B$38.0B – $40.7B-$0.28-$0.30 – -$0.277

Setup & momentum

Volume, range, and moving-average position — the technical setup driving short-term moves.

Right now

Vol vs 30dToday's traded share volume divided by the average over the prior 30 trading days. ≥3× signals unusual interest; below 1× is quiet.0.8×Today's traded share volume divided by the average over the prior 30 trading days. ≥3× signals unusual interest; below 1× is quiet.
52w rangeWhere the latest close sits between the 52-week low (0%) and high (100%). Above 80% is extended; below 30% is basing or in a downtrend.77%Where the latest close sits between the 52-week low (0%) and high (100%). Above 80% is extended; below 30% is basing or in a downtrend.
vs 50d MALatest close vs the 50-day simple moving average. Positive = short-term trend is up.-4.0%Latest close vs the 50-day simple moving average. Positive = short-term trend is up.
vs 200d MALatest close vs the 200-day simple moving average. Positive = long-term trend is up.-2.8%Latest close vs the 200-day simple moving average. Positive = long-term trend is up.

Float & profile

FloatMega float · 2.4B shFree-float shares — the slice of issued stock actually available to trade. Lower buckets squeeze harder on a catalyst.Traded today0.8% of floatToday's volume as a percent of the free float. Above 5% on a single day is unusually high turnover for the available share count.β1.555-year weekly beta vs the S&P 500. Above 1.5 means the stock typically moves more than the index; below 0.8 moves less.

Insider activity

Recent open-market buys and sells by officers and directors — flagged when multiple insiders cluster.

Recent transactions

SellJul 13David ZaslavCEO2.2M sh$59.5MSellMar 16Jean-briac PerretteCEO659.1K sh$18.1MSellMar 16Paul A GouldDirector600.0K sh$16.4MSellMar 16Fazal F MerchantDirector35.0K sh$962KSellMar 10Priya AiyarChief Legal Officer77.2K sh$2.2MSellMar 4Bruce CampbellChief Rev & Strategy Officer842.0K sh$23.6MSellMar 3Richard W FisherDirector16.3K sh$463KSellMar 3Amy GirdwoodChief People & Culture Officer75.0K sh$2.1MSellMar 3Priya AiyarChief Legal Officer223.5K sh$6.3MSellMar 3David ZaslavCEO4.0M sh$113.2M
+ 32 other (15 awards · 11 inkinds · 4 exempts · 1 discretionary · 1 gift) in window

See when $WBD insiders are putting their own money in

  • Real-time open-market buys and sells from Form 4 filings
  • Cluster-buy detection when multiple insiders pile in at once
  • 30 / 60 / 180-day windows so you can spot building conviction
Free, forever. No credit card.

SEC filings

Material 8-K, 13D, S-3, and 424B5 events from the last 180 days — the filings that actually move the price.

Recent material filings

SC 13D/AActivist amendmentJun 26SC 13D/A
AI summary

Warner Bros. Discovery holds 71.3% of Anghami Inc. (an Arabic music and podcast streaming platform) — 7,417,345 shares including warrants at an exercise price of $115 — through its subsidiary OSN Streaming Ltd., as of June 24, 2026. WBD's controlling stake in Anghami reflects its MENA regional streaming strategy through the OSN partnership; the $115 warrant strike is deeply out of the money at current prices.

8-KShareholder voteJun 128-K — Item 5.07: Shareholder vote
AI summary

Warner Bros. Discovery (WBD) held its 2026 Annual Meeting (virtual) on June 9, 2026. All 13 director nominees were elected and PricewaterhouseCoopers LLP was ratified as auditor. Notably, shareholders did NOT approve the advisory say-on-pay vote on 2025 executive compensation — a rare negative outcome that signals material shareholder dissatisfaction with executive pay levels at a company simultaneously negotiating a major merger with Paramount Skydance.

8-KMaterial agreementJun 48-K — Item 1.01: Material agreement · Item 2.03: Material debt obligation
AI summary

Warner Bros. Discovery's subsidiary Discovery Global Holdings (DGH) entered a First Lien Credit Agreement on June 4, 2026 with JPMorgan Chase as administrative agent: $13 billion in USD 7-year term loans plus €1.717 billion in Euro 7-year term loans. The proceeds were used immediately to repay in full the $15 billion non-investment grade bridge loan incurred in June 2025; the USD tranche bears SOFR+2.50% (or Base Rate+1.50%) and the Euro tranche bears EURIBOR+2.50%. This refinancing moves WBD from a short-term high-cost bridge to permanent senior secured term debt, materially improving the company's balance sheet profile.

8-KMaterial agreementMay 278-K — Item 1.01: Material agreement · Item 3.03 · Item 8.01: Other event
AI summary

Warner Bros. Discovery (via subsidiaries DCL and DGH) announced on May 27, 2026 that it had received the required consents from holders across 16 series of outstanding senior notes (aggregate face value exceeding $15 billion across 2027-2052 maturities) to adopt proposed amendments to the governing indentures, completing the Consent Solicitations that launched May 19, 2026. The amendments also involved charter or bylaw modifications (Item 3.03). This successful consent solicitation facilitates integration of WBD's existing debt structure with Paramount Skydance's planned acquisition of WBD.

8-KPress release / Reg FDMay 68-K — Item 2.02: Earnings release · Item 7.01: Press release / Reg FD
AI summary

Warner Bros. Discovery (WBD) released Q1 2026 earnings (quarter ended March 31, 2026) via press release (Exhibit 99.1) and a shareholder letter posted to ir.wbd.com (Exhibit 99.2). Both documents are furnished under Exchange Act Regulation FD and are not filed for Section 18 liability purposes. The company reminded investors that its IR website serves as its primary Regulation FD-compliant disclosure channel for material non-public information. No specific financial figures are disclosed in the filing body.

8-KOfficer or director changeApr 308-K — Item 5.02: Officer or director change
AI summary

Warner Bros. Discovery (and subsidiary DCL) entered into a new employment agreement with CFO Gunnar Wiedenfels on April 29, 2026, effective July 11, 2026 upon expiration of his current agreement dated July 2022. Wiedenfels will continue as CFO through April 28, 2028; the terms are consistent with and permitted by the interim operating covenant exceptions in WBD's February 27, 2026 Merger Agreement with Paramount Skydance. This CFO retention through the anticipated merger and integration period signals financial leadership stability at WBD.

8-KShareholder voteApr 238-K — Item 5.07: Shareholder vote
AI summary

Warner Bros. Discovery held a Special Meeting of Stockholders on April 23, 2026 to vote on the proposed merger with Paramount Skydance Corporation (the Merger Agreement dated February 27, 2026, under which merger sub Prince Sub Inc. would merge into WBD with WBD surviving as a PSKY subsidiary). As of the March 20, 2026 record date there were 2,506,768,389 outstanding WBD shares; approximately 70.3% (1,761,474,343 shares) voted, and the proposal to adopt the Merger Agreement was approved. This WBD shareholder approval clears the last major equity-holder hurdle for the PSKY-WBD combination.

8-KOfficer or director changeMar 168-K — Item 5.02: Officer or director change
+ 72 other (27 DFAN14As · 15 proxys · 9 SC TO-T/As · 6 SC 14D9/As) in window

Recent news

Latest headlines from major outlets, sourced and timestamped — context for whatever just moved.

Ari Emanuel Backs Paramount-WBD Deal In WSJ Op-Ed, Blasts States' Antitrust Lawsuit As “Trash”deadline.com·16h agoOpinion | The Paramount-Warner Merger Could Save Hollywoodwsj.com·18h agoWarner Bros. Discovery (WBD) Stock Falls Amid Market Uptick: What Investors Need to Knowzacks.com·2d agoWarner Bros. Discovery sues Amazon over HBO Max exec hire, seeks order blocking future poachinggeekwire.com·2d agoWarner Bros. Discovery Sues Amazon Over Employee Poachinggurufocus.com·2d ago

More in Entertainment

Peers in the same group — one click to compare setups, fundamentals, and chatter.

$AMC$NFLX$ROKU$FOX$DIS$PSKY$TKO$TDIC
Voices on X · top 15 · last 7 days

TickerTalks is a research tool, not financial advice. We surface social-attention data; we do not make stock recommendations. Past attention is not predictive of future price movements.

PrivacyTermsSupport