Why Warner Bros. Discovery Stock Surged This Week

Shares of media giant Warner Bros. Discovery (NASDAQ: WBD) rose this week after the company announced that it had initiated a review of strategic alternatives in response to unsolicited interest from third-party suitors. The company said that multiple parties have been interested in a full acquisition or a purchase of Warner Bros. The stock was up about 16.9% by early Thursday afternoon, according to data provided by S&P Global Market Intelligence.

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Warner Bros. Discovery is planning to separate itself into two companies, one for Warner Bros. and one for Discovery. While that plan is still going forward, the company is now also considering other options.

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Source Fool.com