Investors Will Need a Lot of Convincing Before Buying This Beaten-Down Stock
Multiple companies are restructuring their streaming strategies to optimize profits in a highly competitive industry. Warner Bros. Discovery (NASDAQ: WBD) is undergoing this process as it works to pay down a considerable debt, to the detriment of its international presence.
Here's why Warner Bros. Discovery may have already lost the streaming wars as it falls behind abroad.
The merger of WarnerMedia and Discovery that led to the launch of Warner Bros. Discovery also saddled the new company with about $55 billion of debt. CEO David Zaslav is prioritizing getting Warner Bros. Discovery back into the black, enacting multiple changes such as scrapping live-action family content, shutting down CNN+, and canceling the nearly completed Batgirl film -- an estimated loss of $90 million.
Source Fool.com
