Notes:

Warner Bros Discovery saw its WBD stock tank to its lowest level in history on WED, being traded at $7.02. Just today, their stock fell almost -9% after billionaire losses were unveiled in another disastrous Q2 report. In the last 12 months, the stock fell over -50%.
Since David Zaslav took over more than 2 years ago, the stock lost over -76% of its value.

I still remember when the whole industry and WB enthusiasts on Twitter were celebrating his arrival, and I still remember I said from the moment they announced the merger that people weren’t reading the room and they would miss Jason Kilar badly.

So many mistakes were made and are still being made since then that it’s not surprising how out of favor the company is. But it’s sad to see it materialize even if I expected this disaster to happen all along.

To the point that even their flagship series had production delayed, number of episodes reduced against the show runners’ will for lack of money – and whoever thought that future seasons would have better outcomes are just being delusional like they’ve been since Zaslav took over.

The financial situation only gets worse every quarter. And more cost cuts keep coming as a result.

In 2021, the then WarnerMedia was producing one of the most exciting comeback stories of the industry after a bumpy start and the controversial project popcorn in 2020. The whole industry was excited for its future prospects, many seeing it as a possible Netflix’s biggest competitor. Then the merger was announced in the middle of 2021, ruining all the momentum.
2022 came and the merger took place with it. And all that excitement and hopes of a successful turnaround were literally liquidated in such an aggressive way that it’s almost like WBD is not even a relevant player anymore. And the crisis might not even be in its bottom yet… to the point that we don’t even know if there will be WBD in its current form by the end of the year. The level of uncertainty is so high that just makes it more difficult to see any light in the end of the tunnel…