Warner Bros. Discovery, Inc. operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming. The Network segment comprises domestic and international television networks. The DTC segment offers premium pay-tv and streaming services. In addition, the company offers portfolio of content, brands, and franchises across television, film, streaming, and gaming under the Warner Bros. Motion Picture Group, Warner Bros. Television Group, DC, HBO, HBO Max, Max, Discovery Channel, discovery+, CNN, HGTV, Food Network, TNT Sports, TBS, TLC, OWN, Warner Bros. Games, Batman, Superman, Wonder Woman, Harry Potter, Looney Tunes, Hanna-Barbera, Game of Thrones, and The Lord of the Rings brands. Further, it provides content through distribution platforms, including linear network, free-to-air, and broadcast television; authenticated GO applications, digital distribution arrangements, content licensing arrangements, and direct-to-consumer subscription products. Warner Bros. Discovery, Inc. was incorporated in 2008 and is headquartered in New York, New York.

Warner Bros. Discovery, Inc. - Series A

Сильный индекс, значительно упал. Оптимистичный взгляд на свои позиции резко сменился на неуверенность.

Strong index, significantly down. An optimistic view of his position suddenly changed to uncertainty.

Сильный индекс, без изменений. Медведи в растерянности.

Strong index, flat. The bears are confused.

Сильный индекс, без изменений. Рынок на стороне быков.

Strong index, flat. The market is on the bulls' side.

Сильный индекс, без изменений. Рынок не поддерживает медведей.

Strong index, flat. The market does not support the bears.

Средний индекс, значительно упал. Отток средств из лонгов увеличился и находится на высоком уровне.

Medium index, significantly down. The outflow of funds from longs has increased and is at a high level.

The NASDAQ 100 After Hours Indicator is down -10.55 to 30,797.38. The total After hours volume is currently 150,344,592 shares traded.
The following are the most active stocks for the after hours session:
Grab Holdings Limited (GRAB) is +0.0102 at $3.09, with 10,888,982 shares traded. As reported by Zacks, the current mean recommendation for GRAB is in the "buy range".
Warner Bros. Discovery, Inc. (WBD) is +0.02 at $30.96, with 7,829,526 shares traded. WBD's current last sale is 99.87% of the target price of $31.
Nike, Inc. (NKE) is -0.0398 at $33.83, with 6,758,463 shares traded. NKE's current last sale is 80.55% of the target price of $42.
Walmart Inc. (WMT) is +0.01 at $104.27, with 5,864,662 shares traded. As reported by Zacks, the current mean recommendation for WMT is in the "buy range".
Ford Motor Company (F) is +0.0096 at $12.11, with 4,668,489 shares traded. F's current last sale is 80.73% of the target price of $15.
NVIDIA Corporation (NVDA) is +0.08 at $234.03, with 4,663,123 shares traded. As reported by Zacks, the current mean recommendation for NVDA is in the "buy range".
NextEra Energy, Inc. (NEE) is +0.0947 at $76.92, with 4,241,897 shares traded. NEE's current last sale is 77.31% of the target price of $99.5.
GameStop Corporation (GME) is +0.0471 at $24.75, with 3,838,220 shares traded.
Invesco QQQ Trust, Series 1 (QQQ) is +0.06 at $749.64, with 3,711,406 shares traded. This represents a 34.92% increase from its 52 Week Low.
Exelon Corporation (EXC) is unchanged at $40.73, with 3,282,123 shares traded., following a 52-week high recorded in today's regular session.
Pfizer, Inc. (PFE) is -0.01 at $27.79, with 3,064,153 shares traded. PFE's current last sale is 99.25% of the target price of $28.
Southern Company (The) (SO) is unchanged at $83.72, with 2,453,925 shares traded., following a 52-week high recorded in today's regular session.

After Hours Most Active for Oct 2, 2026 : GRAB, WBD, NKE, WMT, F, NVDA, NEE, GME, QQQ, EXC, PFE, SO

The NASDAQ 100 After Hours Indicator is up 60.57 to 30,469.07. The total After hours volume is currently 230,327,767 shares traded.
The following are the most active stocks for the after hours session:
NVIDIA Corporation (NVDA) is +0.31 at $228.69, with 12,851,930 shares traded. As reported by Zacks, the current mean recommendation for NVDA is in the "buy range".
Exelon Corporation (EXC) is unchanged at $40.40, with 6,232,092 shares traded., following a 52-week high recorded in today's regular session.
AT&T Inc. (T) is +0.049 at $24.45, with 6,083,108 shares traded. As reported by Zacks, the current mean recommendation for T is in the "buy range".
Warner Bros. Discovery, Inc. (WBD) is -0.01 at $30.94, with 5,211,459 shares traded. WBD's current last sale is 99.81% of the target price of $31.
Apple Inc. (AAPL) is +0.24 at $333.26, with 4,646,189 shares traded. AAPL's current last sale is 99.48% of the target price of $335.
Amazon.com, Inc. (AMZN) is +0.3 at $249.45, with 4,144,296 shares traded. As reported by Zacks, the current mean recommendation for AMZN is in the "buy range".
Alphabet Inc. (GOOGL) is +4.9201 at $349.00, with 4,095,616 shares traded. As reported by Zacks, the current mean recommendation for GOOGL is in the "buy range".
AH Realty Trust, Inc. (AHRT) is +0.01 at $6.11, with 3,019,629 shares traded. AHRT's current last sale is 81.47% of the target price of $7.5.
Bank of America Corporation (BAC) is +0.0555 at $54.49, with 2,985,949 shares traded. As reported by Zacks, the current mean recommendation for BAC is in the "buy range".
Dow Inc. (DOW) is -0.2346 at $27.31, with 2,679,169 shares traded. DOW's current last sale is 78.02% of the target price of $35.
Ford Motor Company (F) is -0.008 at $12.05, with 2,666,766 shares traded. F's current last sale is 80.35% of the target price of $15.
PG&E Corp (PCG) is -0.03 at $12.22, with 2,562,596 shares traded., following a 52-week high recorded in today's regular session.

After Hours Most Active for Sep 30, 2026 : NVDA, EXC, T, WBD, AAPL, AMZN, GOOGL, AHRT, BAC, DOW, F, PCG

Key Points
Investors have been concerned about weakening engagement at Netflix.
The company is still delivering solid growth on the top and bottom lines.
Netflix's business model can overcome temporary weakness with its content offering.
There's no doubt about it. Netflix (NASDAQ: NFLX) is struggling. Shares of the leading streamer are down 25% this year on signs of weak engagement, rising competition from YouTube, and an underwhelming slate of original content.
As the chart below shows, Netflix's 25% slide includes a surge in late February when it bowed out of its pursuit of Warner Bros. Discovery, yielding to a higher offer from Paramount Skydance.
Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
Netflix even got a $2.8 billion breakup fee as part of WBD's decision to sell to Paramount instead, and the stock has still gotten crushed this year. Investors seem to think the company has lost its mojo and that the buzz is gone from its programming. Streaming is essentially turning into a commodity business, as they see it.
While plenty of investors have sold the stock this year due to those recent woes, I believe that's a mistake. Below, I'll explain why, and as a longtime Netflix shareholder, what it would take for me to sell my shares.
Netflix is still a solid business
Just from reading the bearish headlines, you might get the sense that Netflix is now in decline. However, that's far from the case. In its second quarter, revenue grew 13.4% to $12.6 billion, and its operating margin was 33.4%. While that was down slightly from the 34.1% clip from the quarter a year ago, it still shows Netflix is pocketing 1 out of every 3 dollars it receives before interest and taxes, a profit margin almost any company would be happy with.
That margin is a credit to the strength of the company's business model. It's scaled its subscription business to more than 300 million subscribers worldwide and now has a robust advertising business to go with it. Netflix's operating margin should continue to expand as it adds subscribers since the incremental costs to distribute content to new subscribers are basically nothing, though that subscriber pays the same as all the other ones.
Netflix's third-quarter guidance calls for 11.7% growth in revenue to $12.9 billion and an operating margin of 33.2%, showing the company is still on the right track.
About the weakness in engagement
Netflix's hours watched rose 2% in the first half of 2026, which was an improvement from 1.5% growth in 2025. It's unclear if per-subscriber engagement is declining as the company no longer reports subscriber numbers. However, Wall Street analysts have predicted that per-subscriber engagement will fall in the second half of the year, meaning its customers are losing interest in the service.
While that's a troubling sign, it's worth remembering that engagement for a streaming service is variable, and that a couple of original hits and a stronger content slate may be all it needs to reaccelerate subscriber growth. In its most recent shareholder letter, Netflix acknowledged, "We know not all hours are equal," explaining that quality and variety are key components to engagement, in addition to quantity.
Netflix's efforts to add more live sports, for example, could do a lot to add and retain subscribers, even if it doesn't add up to that many hours.
What would make me sell Netflix
Excluding the breakup fee it got from Warner Bros. Discovery, Netflix trades at a price-to-earnings ratio of 26, about even with the S&P 500. That looks like a fair price to pay for a company growing its top line by double digits with superior profit margins.
For me to sell Netflix stock, its growth would have to slow meaningfully to mid-single-digits or below for several quarters. At this point, I believe the company is closer to an entertainment utility than a traditional consumer discretionary stock, and I think the business model can overcome even weak engagement. Netflix might not be Procter & Gamble, but even P&G is likely envious of Netflix's recurring revenue model, as its subscriptions help lock in customers.
Additionally, Netflix offers good value, and at-home entertainment tends to be recession-proof. I think it would take years of poor content choices to do lasting damage to the brand.
Overall, with its current growth rate and profit margin, Netflix looks closer to a buy than a sell at this price. The company has overcome plenty of obstacles before, and I expect to do the same with this one.
Should you buy stock in Netflix right now?
Before you buy stock in Netflix, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Netflix wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $373,352!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,406,241!*
Now, it’s worth noting Stock Advisor’s total average return is 933% — a market-crushing outperformance compared to 212% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of September 29, 2026.
Jeremy Bowman has positions in Netflix. The Motley Fool has positions in and recommends Netflix and Warner Bros. Discovery. The Motley Fool has a disclosure policy.

Most Investors Are Wrong About Selling Netflix. Here's What I'd Do Instead.

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the State Street Communication Services Select Sector SPDR ETF (Symbol: XLC) where we have detected an approximate $261.3 million dollar inflow -- that's a 1.2% increase week over week in outstanding units (from 201,150,000 to 203,500,000). Among the largest underlying components of XLC, in trading today AT&T Inc (Symbol: T) is down about 0.1%, Warner Bros Discovery Inc (Symbol: WBD) is off about 0.1%, and Walt Disney Co. (Symbol: DIS) is relatively unchanged. For a complete list of holdings, visit the XLC Holdings page » The chart below shows the one year price performance of XLC, versus its 200 day moving average:
Looking at the chart above, XLC's low point in its 52 week range is $105.03 per share, with $120.405 as the 52 week high point — that compares with a last trade of $111.12. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Further XLC Research:

XLC, T, WBD, DIS: Large Inflows Detected at ETF

Key Points
Netflix's revenue grew 13% in the second quarter of 2026.
Wall Street is worried about increasing competition and soft near-term guidance.
It's hard to be a Netflix (NASDAQ: NFLX) investor right now. The streaming giant has a few bright spots in terms of growth, but the stock has declined more than 40% in the past 12 months and is just a few dollars off its 52-week low. So what's wrong with Netflix?
The business itself isn't broken. Netflix reported a 13% increase in second-quarter revenue from the year prior at more than $12.6 billion. Operating margin and free cash flow slipped, but some of that can be attributed to tax payments the company owed for receiving $2.8 billion from Warner Bros. Discovery for the failed acquisition.
Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
The bigger issue for Netflix is twofold. First, competition is fierce in this space. In particular, YouTube is gaining traction and stealing market share, which worries analysts. YouTube is owned by Google, whose parent company is Alphabet.
Secondly, Netflix's guidance left Wall Street wanting more. Analysts were expecting $13 billion in revenue in the third quarter, but Netflix thinks it'll be closer to $12.86 billion. The near term won't be easy for Netflix, but its ad business is growing steadily, and it's doing everything it can to deepen subscriber engagement. Netflix is no longer just about film and television shows; it now offers gaming, podcasts, and access to live events. These growth levers will be important to capitalize on in the coming years.
I'm still cautiously bullish on Netflix when considering the longer-term picture. Netflix maintains pricing power, an expanding ad business, and multiple ways to engage its viewers. When Netflix releases earnings in late October, I don't expect a massive turnaround, but I would hope to see more signs of sustained growth.
Should you buy stock in Netflix right now?
Before you buy stock in Netflix, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Netflix wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $383,680!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,382,954!*
Now, it’s worth noting Stock Advisor’s total average return is 937% — a market-crushing outperformance compared to 214% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of September 28, 2026.
Catie Hogan has positions in Warner Bros. Discovery. The Motley Fool has positions in and recommends Alphabet, Netflix, and Warner Bros. Discovery. The Motley Fool has a disclosure policy.
Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

What's Wrong With Netflix Stock?

Key Points
Netflix is down 24% this year, despite receiving a substantial termination fee for losing out on Warner Bros. Discovery.
Paramount Skydance is down 26% this year, despite clearing most of the regulatory hurdles to closing on its blockbuster acquisition.
With Netflix trading for less than 20 times forward earnings, it's a rare opportunity to pick up a premium market leader at a discount.
Content may still be king, but the two players in the recent real-life game of thrones aren't doing so well. Netflix (NASDAQ: NFLX) initially succeeded in striking a buyout deal for Warner Bros. Discovery (NASDAQ: WBD) late last year, only to see Paramount Skydance (NASDAQ: PSKY) wrestle it away earlier this year.
Netflix is down 24% in 2026. Paramount Skydance has fallen 26%. The winner and the loser of the Warner Bros. Discovery bidding battle both lost the war? Let's size up the opportunity behind both sell-offs before deciding which one is worthy of the next $500 you have to put to work in the stock market.
Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
Binge investing
The case for Netflix is pretty compelling. It didn't have HBO and DC Comics parent Warner Bros. in its arsenal a year ago. It doesn't have it today, but it was on the receiving end of a $2.8 billion termination fee when Warner Bros. Discovery chose to break things off to go with the higher Paramount Skydance offer.
Netflix stock is still trading lower in 2026, and down a brutal 47% from the all-time high it notched 15 months ago. It remains the top dog in its field, with more than 300 million premium subscribers worldwide.
Business has slowed this year. Netflix began this year by posting strong fourth-quarter results in January, its strongest top-line growth in four years. It's been all downhill ever since.
Q4 2025: 18% revenue growth
Q1 2026: 16%
Q2 2026: 13%
The upside is that Netflix remains highly profitable.
Mounting a bullish case for Paramount
Skydance Media was once a small company founded by David Ellison, the son of one of the richest people on the planet. Two summers ago, it struck a deal to acquire Paramount, which took 13 months to close. In February of this year, it succeeded in breaking up the deal between Netflix and Warner Bros. Discovery. It struck a $110 billion deal for Warner Bros. Discovery, which is still working its way through the thorny approval process.
Paramount Skydance should benefit from the scalability of its acquired empire once the deal is complete. Paramount was a great catch. Warner Bros. Discovery is an even bigger fish to fry (and monetize). With streaming services aggressively jacking up their prices in recent years, margins should continue to widen for remaining players.
Paramount Skydance has cleared most of the hurdles to close on its deal for Warner Bros. Discovery. It's a media empire worth watching, and I believe both companies can beat the market after their year-to-date declines.
I'm still going with Netflix as the best place to put your next $500. Netflix is trading at a forward earnings multiple just shy of 20, a historical bargain for the company. Consolidation among streaming services will benefit all players. There will be more pricing elasticity and bottom-line growth. As the pioneer in this space, you don't want to bet against Netflix for long if you're short.
Should you buy stock in Netflix right now?
Before you buy stock in Netflix, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Netflix wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $383,680!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,382,954!*
Now, it’s worth noting Stock Advisor’s total average return is 937% — a market-crushing outperformance compared to 214% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of September 28, 2026.
Rick Munarriz has positions in Netflix. The Motley Fool has positions in and recommends Netflix and Warner Bros. Discovery. The Motley Fool has a disclosure policy.

Netflix and Paramount Skydance Are Both Down Over 20%. Here's the 1 to Buy With $500 and Never Look at Again.

Key Points
Shares of Netflix are down 24% so far in 2026.
By September 2027, Netflix could trade in the $70-$135 range, according to analyst forecasts.
Netflix has revenue growth opportunities, such as sports and video podcasting, but it will take time to see a return on investment in those ventures.
After Netflix (NASDAQ: NFLX) walked away from its attempt to acquire assets from Warner Bros. Discovery earlier in the year, the video streamer's stock price never quite found its footing. As of this writing, shares are down 24% thus far in 2026, and barring a broad market rally, Netflix would have a lot of ground to make up to finish the year in positive territory.
Looking a little further out, however, gets interesting, as there are some positive forecasts for where the stock could be trading by September 2027.
Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
The Netflix stock price outlook by this time next year
From the 54 analysts covering the stock, the lowest 12-month price target is $70, the median is $93.50, and the highest is $135, according to CNN. From a closing price of $71.14 on Sept. 25, the median one-year price target of $93.50 would represent a 31.4% gain, while the highest price target, $135, would be a gain of 89.7%. The lowest target, $70, however, would represent a 1.6% loss.
Over the next couple of years, I do like Netflix as a long-term investment, as it has plenty of interesting revenue-generating opportunities to capitalize on, from live events to video podcasting to gaming to its themed amusement complex, Netflix House. Live sports, in particular, could offer a promising dual benefit for driving new subscribers and generating ad revenue, as the NFL game between the San Francisco 49ers and the Los Angeles Rams, streamed on Netflix on Sept. 10, averaged 18.5 million viewers and peaked at 21.3 million. In NFL history, it now ranks in the top three most-streamed Thursday prime-time games.
Still, as the saying goes, it takes money to make money. In 2024, for instance, Netflix paid $150 million for the right to stream two NFL games on Christmas. It's going to have to keep spending as it brings more sporting events into its fold. At the same time, its video podcasting concept remains new, and the company has yet to establish a meaningful monetization strategy for its gaming unit. The Netflix House concept is expanding to Las Vegas in 2027, but that will mark a total of just three open venues.
Why I'm still cautious
There's always a chance Netflix starts regaining its footing by increasing engagement among current subscribers while keeping content budgets in check and reporting better-than-expected ad revenue and subscriber growth, but that's a lot of boxes to check off. And if Netflix gets into a content-creation war with other streamers, it can only raise prices so much to cover the costs before subscribers push back.
It appears the next year will be challenging, as it's difficult to see anything in the immediate future that could reignite investor enthusiasm. That's why I see the stock as more likely to trade between $70 and $93.50 by this time next year, with $93.50 being on the more optimistic side, than to jump all the way to $135.
The current risk doesn't seem to outweigh the potential reward over the next year, so I'd be comfortable waiting for Netflix to show signs of progress before investing. In the meantime, there are plenty of other opportunities out there to consider.
Should you buy stock in Netflix right now?
Before you buy stock in Netflix, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Netflix wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $383,680!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,382,954!*
Now, it’s worth noting Stock Advisor’s total average return is 937% — a market-crushing outperformance compared to 214% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of September 26, 2026.
Jack Delaney has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Netflix and Warner Bros. Discovery. The Motley Fool has a disclosure policy.

Will Netflix Stock Trade for $135 or $70 by September 2027? Here's the Most Likely Scenario.

Key Points
After a settlement with several state AG's, the Paramount-WBD merger looks set to close soon.
The settlement imposes a number of requirements on the new company.
Paramount will have roughly $80 billion in debt following the merger.
2026 has been a wild year for Paramount Skydance (NASDAQ: PSKY). After closing its merger with Skydance last August, Paramount, under new CEO David Ellison, aggressively pursued Warner Bros. Discovery (Nasdaq: WBD) and, in the end, outbid Netflix for the Hollywood conglomerate.
The merger between two of Hollywood's biggest studios was met with outcries from industry creators and regulatory pushback. However, after Paramount agreed to a settlement with several state attorneys general who had sued to block the merger, the deal now looks set to go through, pending a last-minute intervention by a judge on Thursday.
Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
Investors aren't cheering, though. The stock is down 26% year-to-date, and it actually fell earlier this week on news of the settlement, showing investors are skeptical that it's the right move for the company, as the deal imposes significant requirements, including a minimum number of theatrical releases, a minimum commitment of domestic production spending, and that the company must keep both the Paramount and WBD Hollywood studio lots open.
Is Paramount a buy?
Paramount has just an $11 billion market cap right now, but the company is expected to have around $80 billion in debt after the deal closes.
Considering where current interest rates are, that will cost the company at least $4 billion in interest expense annually, and likely closer to $6 or $7 billion. At this point, Paramount is only modestly profitable, with an operating income of $1.1 billion in the first half of the year.
Warner Bros. Discovery has struggled mightily since its formation, and the company just reported a quarter with an 11% decline in revenue and operating income of $237 million, which was completely erased by $511 million in interest expense. WBD currently has $32 billion in debt, which will get rolled into the combined company's expected debt balance of around $80 billion.
Overall, while the new Paramount-WBD will have a wealth of content assets to work with, legacy media companies have struggled with the transition to streaming, which has eroded profits in cable and at the box office. So far, neither of these companies has figured out a model for profitable growth in the streaming era.
Perhaps, as a combined unit, the new company will be strong enough to deliver that for investors, but I think it's more likely it won't, especially given the weight of $80 billion in debt.
Paramount is overpaying for WBD, and the combination is unlikely to end well.
Should you buy stock in Paramount Skydance right now?
Before you buy stock in Paramount Skydance, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Paramount Skydance wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $386,781!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,379,943!*
Now, it’s worth noting Stock Advisor’s total average return is 936% — a market-crushing outperformance compared to 213% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of September 25, 2026.
Jeremy Bowman has positions in Netflix. The Motley Fool has positions in and recommends Netflix and Warner Bros. Discovery. The Motley Fool has a disclosure policy.

After Clearing a Major Hurdle to Acquire Warner Bros, Is Paramount Skydance an Obvious Buy Down 25.7%?

The NASDAQ 100 After Hours Indicator is down -4.54 to 30,465.75. The total After hours volume is currently 165,689,115 shares traded.
The following are the most active stocks for the after hours session:
Warner Bros. Discovery, Inc. (WBD) is -0.02 at $30.74, with 8,369,317 shares traded. WBD's current last sale is 99.16% of the target price of $31.
Grab Holdings Limited (GRAB) is +0.008 at $3.21, with 7,075,970 shares traded. As reported in the last short interest update the days to cover for GRAB is 8.284295; this calculation is based on the average trading volume of the stock.
NVIDIA Corporation (NVDA) is -0.15 at $225.36, with 6,438,183 shares traded. Over the last four weeks they have had 9 up revisions for the earnings forecast, for the fiscal quarter ending Oct 2026. The consensus EPS forecast is $2.47. As reported by Zacks, the current mean recommendation for NVDA is in the "buy range".
NIO Inc. (NIO) is +0.01 at $3.68, with 5,266,173 shares traded. NIO's current last sale is 64.56% of the target price of $5.7.
Comcast Corporation (CMCSA) is +0.05 at $22.60, with 4,751,971 shares traded. CMCSA's current last sale is 77.93% of the target price of $29.
The Trade Desk, Inc. (TTD) is +0.0098 at $12.69, with 4,311,869 shares traded., following a 52-week high recorded in today's regular session.
Bristol-Myers Squibb Company (BMY) is +0.12 at $61.27, with 4,024,355 shares traded. BMY's current last sale is 90.1% of the target price of $68.
Grifols, S.A. (GRFS) is unchanged at $7.20, with 3,601,412 shares traded.GRFS is scheduled to provide an earnings report on 9/28/2026, for the fiscal quarter ending Jun2026. The consensus earnings per share forecast is 0.27 per share, which represents a 19 percent increase over the EPS one Year Ago
Petroleo Brasileiro S.A.- Petrobras (PBR) is unchanged at $21.14, with 3,497,634 shares traded. As reported by Zacks, the current mean recommendation for PBR is in the "buy range".
Rocket Companies, Inc. (RKT) is +0.0294 at $12.18, with 3,211,368 shares traded. RKT's current last sale is 67.66% of the target price of $18.
Roblox Corporation (RBLX) is +0.0875 at $49.08, with 3,004,821 shares traded. RBLX's current last sale is 104.42% of the target price of $47.
Realty Income Corporation (O) is +0.04 at $55.65, with 2,591,961 shares traded., following a 52-week high recorded in today's regular session.

After Hours Most Active for Sep 23, 2026 : WBD, GRAB, NVDA, NIO, CMCSA, TTD, BMY, GRFS, PBR, RKT, RBLX, O

Warner Bros. Discovery WBD shares soared 10.8% in the last trading session to close at $30.8. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2.6% loss over the past four weeks.
WBD’s improving streaming momentum, strong content lineup and better subscriber retention provide encouraging signs for sustained growth. Its expanding global reach, resilient sports and news businesses, and promising studio pipeline could support the company’s operating momentum and potentially extend recent gains.
This operator of cable TV channels such as TLC and Animal Planet is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents a year-over-year change of +133.3%. Revenues are expected to be $8.84 billion, down 2.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Warner Bros. Discovery, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on WBD going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Warner Bros. Discovery is a member of the Zacks Broadcast Radio and Television industry. One other stock in the same industry, Roku ROKU, finished the last trading session 0.5% higher at $154.33. ROKU has returned -2.4% over the past month.
Roku's consensus EPS estimate for the upcoming report has changed -0.6% over the past month to $0.55. Compared to the company's year-ago EPS, this represents a change of +243.8%. Roku currently boasts a Zacks Rank of #1 (Strong Buy).
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This article originally published on Zacks Investment Research (zacks.com).

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