The CEO of Warner Bros. Discovery, David Zaslav, doubles down on his faith in the newly merged media conglomerate.
According to information filed with the Securities and Exchange Commission, Zaslav on Wednesday bought shares in the company worth approximately $1 million.$19.49 to $19.53 per share. The acquisition came after Zaslav announced to Warner Bros. Discovery’s leading position in the streaming space and called it “much more balanced” than rival Netflix.
“Here comes this new company with this slot, the middle row open for us to accelerate with the widest and most immersive content in the world,” said Zaslav. income April 26 Turn on.
Chief Financial Officer Gunnar Wiedenfels also increased his stake on Wednesday, buying about $500,000 worth of shares for $19.95.
These acquisitions may indicate executives’ confidence in the newly created business, although they may also seek to reassure investors in the near future. On Tuesday, Wiedenfels warned that earnings from Warner Bros. Discovery declines on the year as the company tries to sort out its newly merged assets and products like HBO Max experience a “significant drop”. Warner stock The brothers’ discovery fell after the announcement of low addresses, but rose 1.4 percent in the hours after trading on Wednesday.
Reed Hastings, CEO of Netflix A similar $20 million was generated Acquisition of stock in January after the streaming company saw its shares plummet.
AT&T Discovery and WarnerMedia He formally joined to form a new company on April 8.
Source: Hollywood Reporter
Camila Luna is a writer at Gossipify, where she covers the latest movies and television series. With a passion for all things entertainment, Camila brings her unique perspective to her writing and offers readers an inside look at the industry. Camila is a graduate from the University of California, Los Angeles (UCLA) with a degree in English and is also a avid movie watcher.
