Warner Bros. Discovery Inc Ordinary Shares - Class A

WBD: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$28.00	Wrvg	Qjwlbzwz

Evolution of TV Industry Is a Big Weight on Warner Bros. Discovery, but Firm’s Slowly Making Strides

Matthew Dolgin

May 9, 2024

Business Strategy and Outlook

Warner Bros. Discovery faces significant uncertainty surrounding its evolution in a media landscape defined by cord-cutting and many streaming choices. Ultimately, we think Warner’s scale, distribution channels, production studios, and content portfolio will make it one of the survivors.

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