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WBWBD

Warner Bros. Discovery, Inc.

$WBD·$70B·Entertainment·Communication Services
$28.04-0.6%YTD-2.6%1Y+73.4%
Price updated 10h ago·X counts updated 1d ago
WBWBD
$WBDWarner Bros. Discovery, Inc.
$28.04-0.57%167 posts0.9×
AI analysisFundamentalsVoices on X
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On X

Top X posts

The complete picture of $WBD on X — how loud the conversation is right now, how it has trended over the last two weeks, and which way the crowd is leaning.

167X posts · last 7 days
Aug 28Sep 10
Chatter Meter
0.9×
QuietNormal · 1×Loud

How loud $WBD's conversation on X is versus its own normal — 1× is typical, higher means busier. Right now it's about its usual level.

Bullish sentimentAI analysisGenerated by AI from underlying data7 posts analyzed · as of 2026-09-10

Warner Bros Discovery chatter frames $2.1 million in November $29 call bullish premium, ongoing state-AG litigation over the Paramount merger, and 12 states potentially on the hook for delay-related bond costs. Sentiment leans constructive on merger completion optionality.

Read what X is saying about $WBD

  • Bullish vs bearish call — with the AI summary of the day's posts
  • Divergence flag when the top-engagement posts argue the other side
  • How loud the conversation is versus this ticker's own normal
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AI verdictAI analysisGenerated by AI from underlying data

TickerTalks' own read on what's driving $WBD — fundamentals, momentum, or an event — and whether it agrees with the X crowd.

Hinges on a big eventEvent coming upAI verdict · as of 2026-09-12

A known event soon (earnings, a ruling, etc.) will likely decide the next move.

Warner Bros Discovery is a merger-in-motion — the Paramount deal is nearly closed and California's AG is the last real hurdle.

Warner Bros. Discovery runs the Warner Bros. film and TV studios, cable networks (CNN, HBO, Discovery Channel) and Max streaming. It's now the target of Paramount Skydance's acquisition, and the deal is close to closing.

  • The merger is the whole story — Warner Bros is up 73% over 12 months on the pending Paramount acquisition, position 89% of the 52-week range says the market believes the deal closes; Q1 revenue fell 1% year-over-year but that's the standalone business, not the pro-forma entity.
  • Insider signal is honest large-position rotation — director Kenneth Lowe sold $5.6M, director Anton Levy sold $9.7M, officer Amy Girdwood sold $7.3M in the past week (total $61M in the month) as pre-merger positions rebalance; $2.1M in November $29 calls suggests some traders are still positioning for further upside on merger completion.

The California AG merger objection and closing timeline are the near-term events — a clean close would remove uncertainty and let the pro-forma entity re-rate around Paramount Skydance guidance. A delay from the AG or a hostile modification is what would invalidate the coiling setup and re-test the pre-merger price levels.

Agrees with X sentimentThe bullish X 'November $29 calls + merger completion + 12 states on hook for bond costs' framing lines up with real signals — Paramount Skydance filed motions to protect against delay costs, and the state-AG litigation is the last real barrier between here and closure.

What to watch: California AG resolution and merger closing timeline. A clean close removes uncertainty and lets the pro-forma entity re-rate; a delay or hostile modification re-tests pre-merger price levels.

On the calendar: 2026-11-05 — Q3 earnings

merger pendingparamount acquisitionstate ag litigationevent ahead

Read the AI verdict on $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)
  • Whether TickerTalks' read agrees with or diverges from the X crowd
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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

Streaming ARPU is improving as password-sharing crackdowns and ad-tier rollouts lift per-subscriber revenue; Netflix and Disney+ are the primary beneficiaries while legacy linear TV cord-cutting continues structurally. Sports rights remain the last durable moat — TKO's UFC/WWE live events and Fox's live sports distribution are the defensive anchors in a migrating audience landscape.

What this means for $WBD

Partial — Warner Bros. Discovery's Max streaming ARPU is improving with bundling and price increases; the legacy linear TV (HBO, CNN) cord-cutting headwind and significant leverage are concurrent drags on the recovery.

Industry benchmark

13-name peer basket
+13.9%YTD
+8.3%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
Q2 2026Aug 6, 2026$0.06$-0.14+142.7%
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%
Next earningsThu, Nov 5·consensus EPS $0.02

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 16 analysts
FYRevenueRangeEPSRangeAnalysts
FY26$36.2B$35.4B – $37.2B-$1.15-$1.36 – -$0.9315
FY27$37.2B$36.0B – $38.6B$0.01-$0.01 – $0.0316
FY28$37.8B$36.0B – $39.7B$0.06$0.02 – $0.1115
FY29$37.9B$36.5B – $39.3B$0.21$0.20 – $0.2210
FY30$39.0B$37.5B – $40.4B$0.28$0.27 – $0.307

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.0.7×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.89%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.+3.1%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.+2.4%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 today0.5% 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.β1.575-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

SellSep 10Kenneth W LoweDirector200.0K sh$5.6MSellSep 9Amy GirdwoodChief People & Culture Officer262.3K sh$7.3MSellSep 3Anton J LevyDirector340.0K sh$9.7MSellSep 3Kenneth W LoweDirector200.0K sh$5.7MSellAug 27Jean-briac PerretteCEO126.7K sh$3.7MSellAug 14David ZaslavCEO195.0K sh$5.5MSellAug 13Fazal F MerchantDirector71.5K sh$2.0MSellAug 13David ZaslavCEO773.2K sh$21.7MSellAug 12Richard W FisherDirector20.0K sh$549KSellAug 11Kenneth W LoweDirector120.0K sh$3.2M
1–10 of 15
+ 24 other (16 awards · 4 exempts · 2 discretionarys · 2 inkinds) 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
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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

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

Warner Bros. Discovery, Inc. (WBD) reported Q2 2026 financial results on 2026-08-06, reporting financial results details in attached press release. Additional items: Item 7.01. Quarterly earnings are a material disclosure; investors should review the full press release for segment details and management commentary.

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.

+ 14 other (5 proxys · 2 10-Qs · 2 13Gs · 1 routine 8-K) in window

Recent news

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

Paramount's CEO has ‘tricks up his sleeve' to get his Warner acquisition cleared in Californianypost.com·23h agoWarner Bros. Pictures Animation and WaterTower Music Release the Theme Song From THE CAT IN THE HATbusinesswire.com·2d agoParamount says California AG contradicted bond arguments in TV interviewsreuters.com·4d agoParamount Skydance Moves to Protect Against Costs of Delay as WBD Merger Is Ready to Closeprnewswire.com·4d agoInvestors Heavily Search Warner Bros. Discovery, Inc. (WBD): Here is What You Need to Knowzacks.com·4d ago

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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.

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