Why Warner Bros. Discovery Stock Popped Today

Why Warner Bros. Discovery Stock Popped Today

Many investors discovered their love for Warner Bros. Discovery (NASDAQ: WBD) on Monday. Warner Bros.' counterparty in the deal, peer Nexstar Media Group (NASDAQ: NXST), announced that it is now the majority owner of The CW Network. All told, Nexstar holds 75% of The CW, with the remainder being owned by its sellers Warner Bros. and Paramount Global (NASDAQ: PARA).