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Warner Bros. Discovery, Inc.

WBD · NASDAQ

Market closed$26.87$-0.420000 (-1.54%)After hours $26.79 · -0.30%

Key statistics

Previous close$27.29
Open$27.30
Day high$27.46
Day low$26.78
52-week high$30.00
52-week low$10.76
Market cap67.37B
Volume28.13M
Average volume20.19M
P/E ratio-38.39
Forward P/E—
EPS-0.70
Dividend yield0.00%

Market context

Why it moved

WBD stock declined as negative sentiment spilled over from Netflix's sharp after-hours drop following its earnings miss on margins and flat outlook, weighing broadly on streaming and media sector peers, while state attorneys general filing lawsuits to block WBD's proposed merger with Paramount added further regulatory uncertainty.

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What is happening

Recent company-specific developments and publisher coverage.

July 18, 2026Warner Bros. Discovery shares fell, underperforming the broader market, as dual pressures weighed on sentiment: a federal judge set a July 22 deadline to rule on a coalition of 12 states' bid to temporarily block the $110 billion Paramount Skydance merger, while Netflix's disappointing Q3 guidance dragged the broader media sector down roughly 2.9%. The merger overhang remains the dominant narrative for WBD investors, with legal challenges from state AGs, the WGA, and a new shareholder lawsuit all adding uncertainty—even as the FCC chair signaled the states' case is unlikely to succeed and Paramount maintains it plans to close the deal by end of September.

-1.539

July 17, 2026Warner Bros. Discovery shares closed essentially flat, holding near the $27 level as the dominant story remains the turbulent path of the proposed $110 billion Paramount Skydance acquisition. A federal judge denied a bid by streaming consumers to temporarily block the deal — a procedural win for the merger — but the overhang from 12 states' antitrust lawsuits and a separate shareholder suit alleging illegal side deals involving President Trump continue to cloud the outlook. Adding to cautious sentiment, CEO David Zaslav's recent $59 million stock sale and Netflix's disappointing Q3 guidance weighed on broader media sentiment.

0.0733

July 16, 2026Warner Bros. Discovery shares edged lower amid mounting legal challenges to Paramount Skydance's proposed $110 billion acquisition, with the Writers Guild of America filing an antitrust lawsuit on July 14 following a multi-state suit led by California just days earlier. Adding to deal uncertainty, CEO David Zaslav sold an additional $59 million in WBD stock, though Paramount reiterated it still intends to close the merger by end of September. After hours, shares recovered modestly, while the California AG signaled potential concessions that could pave a path toward settlement.

-0.7642

July 15, 2026Warner Bros. Discovery shares rose modestly, closing up ~1.4%, as event-driven trading around the proposed $110 billion Paramount Skydance merger dominated sentiment. The day brought a significant escalation in legal risk: a coalition of 12 state attorneys general filed an antitrust lawsuit to block the deal, and the Writers Guild of America separately sued in federal court alleging the merger would harm writers — compounding concerns around a deal that was already delayed past July 22. CEO David Zaslav's sale of $59 million in WBD stock added to negative sentiment, even as unusually heavy call-option buying suggested some traders remain positioned for merger-driven upside. The Communication Services sector (XLC) ended the day roughly flat, while the broader market edged higher on a cooler-than-expected June CPI print.

1.4396

July 14, 2026Warner Bros. Discovery rose nearly 2% on unusually high volume — more than double its average — as investors digested a major regulatory development: a coalition of 12 state attorneys general, led by California AG Rob Bonta, filed a federal lawsuit seeking to block the company's proposed $110 billion acquisition by Paramount Skydance. While the antitrust challenge adds uncertainty to deal closure, the stock's gain — alongside unusually high call option activity — suggests some investors are betting the merger ultimately survives, as Paramount vowed to "vigorously defend" the transaction, noting that regulators across 24 global jurisdictions have already cleared the deal.

1.8804

July 11, 2026Warner Bros. Discovery closed essentially flat amid mounting regulatory uncertainty surrounding Paramount Skydance's $110 billion acquisition of the company. A multistate lawsuit led by California Attorney General Rob Bonta — with New York and Pennsylvania expected to join — is anticipated as soon as next week to block the deal on antitrust grounds, while Oregon's AG separately seeks a court order to delay the merger by 60 days and compel document disclosure. Paramount has already pushed its closing timeline to July 22, and if the deal extends beyond October, Ellison has agreed to pay WBD shareholders a 25-cent "ticking fee" worth ~$650 million per quarter — adding to deal cost complexity.

-0.1502

July 10, 2026Warner Bros. Discovery gained nearly 2% as investors weighed competing narratives surrounding its pending $110 billion acquisition by Paramount Skydance. The dominant concern is mounting regulatory risk: California Attorney General Rob Bonta is spearheading an investigation and multiple U.S. states could file suit to block the deal as soon as next week, while Oregon is separately seeking a 60-day delay and court order to compel document production. Paramount has already pushed its closure date to July 22, adding to deal uncertainty. On a brighter note, HBO Max secured 122 Emmy nominations and Warner Bros. launched an AI-powered advertising product built on AWS—both supportive of content and monetization momentum. Analyst consensus remains a cautious "Hold" with a $27.04 average price target, sitting just above the current price. The Communication Services sector ETF (XLC) closed sharply higher, outperforming the broader S&P 500 on the day.

1.8356

July 9, 2026Warner Bros. Discovery closed essentially flat amid competing forces: a notable partnership with Amazon Web Services to develop agentic AI-powered advertising technology provided a positive catalyst, while legal headwinds around its pending $110 billion acquisition by Paramount Skydance intensified — Oregon's Attorney General sought a 60-day court-ordered pause on the deal, citing withheld lobbying records. Guggenheim reiterated a Neutral rating ahead of Q2 earnings. The broader market faced a risk-off session after President Trump declared the U.S.-Iran ceasefire 'over,' sending oil surging and pressuring equities.

0.1149

Variety · July 18, 2026Court Hears Argument on States’ Move to Pause Paramount-Warner Bros. MergerFox Business · July 17, 2026Judge delays ruling on California's bid to freeze Paramount's $111B takeover of Warner Bros. DiscoveryLos Angeles Times · July 17, 2026Paramount offers to briefly delay Warner Bros. merger as court battle heats upVariety · July 15, 2026Ellisons Sued by Paramount Investor Over Alleged Trump Side Deal for WB Approvalupi · June 10, 2026EU investigates Paramount-WBD merger for Middle Eastern investmentNetflix IR · February 26, 2026Netflix Declines to Raise Offer for Warner Bros.Deadline · February 11, 2026Activist Investor Slams Warner For Rushing Into “Flawed” Netflix DealNetflix IR · January 20, 2026Netflix and Warner Bros. Discovery Amend Agreement to All-Cash Transaction
Mt Newswire · July 17, 2026Market Chatter: Judge to Rule by July 22 on States' Bid to Block Paramount-Warner Bros. Deal
Mt Newswire · July 17, 2026States' Suit Against Paramount-Warner Bros. Deal to Get Ruling by July 22, Bloomberg Reports
Benzinga · July 17, 2026'Paramount-Warner Bros. Judge to Rule by July 22 in States’ Case' - Bloomberg Law
Benzinga · July 17, 2026Why Is Paramount Skydance Stock Falling on Friday?
Mt Newswire · July 16, 2026Paramount Skydance Wins Round in Warner Bros. Deal Challenge
Benzinga · July 16, 2026Paramount Lawsuit Brings Trump Into Acquisition Equation
Mt Newswire · July 14, 2026Update: Market Chatter: Paramount's Warner Acquisition Faces Writers Guild of America Antitrust Lawsuit
Mt Newswire · July 14, 2026Market Chatter: Paramount's Warner Acquisition Faces Writers Guild of America Antitrust Lawsuit

Peers

S&P 500SPX · $7,457.69-1.01%The Walt Disney CompanyDIS · $97.67-2.05%Comcast CorporationCMCSA · $23.79-1.29%Netflix, Inc.NFLX · $68.95-7.26%Fox CorporationFOX · $51.63+1.08%Paramount Skydance Corporation Class B Common StockPSKY · $8.75-4.27%AMC Global Media Inc.AMCX · $10.49-3.76%Spotify Technology S.A.SPOT · $478.14+0.43%Live Nation Entertainment, Inc.LYV · $180.22+0.21%TKO Group Holdings, Inc.TKO · $185.13+0.19%Formula One GroupFWONA · $93.88+1.76%Apple Inc.AAPL · $333.74+0.14%