Warner Bros. Discovery Shares Gain as Media Giant Starts Trading
variety.comBrent Lang Executive Editor of Film and MediaWall Street appears to like what Warner Bros. Discovery is selling.The combined media company started off its first full day of trading Monday in the green.
Shares of Warner Bros. Discovery were up almost 6% on Monday nearly an hour after opening with the 9:30 a.m. ET bell at $24.08 a share.AT&T, the telecom giant that off-loaded WarnerMedia to Discovery after four tumultuous years, also appeared to benefit.
The company’s stock was up more than 5% at $19.30 on Monday at just before 10:30 a.m. ET. The AT&T stock had opened at $18.89 per share.Discovery completed its $43 billion merger with WarnerMedia on Friday.
The combined companies boast as list of top entertainment brands that includes Warner Bros. film studio, HBO, TNT, CNN, as well as Food Network, HGTV, TLC and Animal Planet.
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