Our view is streaming is a scale and intellectual property business that will result in a few large winners, and we believe HBO Max will be among this group. These questions, in addition to a challenging macro environment for advertising and foreign exchange headwinds, have been overhangs on the stock price.įurther, media and entertainment stocks have come under pressure due to skepticism about the industry’s long-term economics. There is a lot of opportunity, but there’s also uncertainty related to the merger’s integration and realized cost synergies.
We believe the total portfolio of content and entertainment assets should provide a compelling direct-to-consumer offering to attract viewers and the scale to invest in original content. The legacy Discovery business distributes content across US and international networks-such as HGTV, Discovery, TLC, Food Network and Animal Planet-as well as its own streaming service Discovery+. Warner is known for its theatrical releases, networks (CNN, TNT, TBS) and pay television network HBO and related over-the-top streaming service HBO Max. (NASDAQ:WBD) is a global media and entertainment company that is the result of the 2022 merger of Discovery and WarnerMedia. (NASDAQ:WBD) in its Q4 2022 investor letter: (NASDAQ:WBD) has a market capitalization of $36.499 billion.Īrtisan Value Fund made the following comment about Warner Bros. (NASDAQ:WBD) was -5.65%, and its shares lost 47.63% of their value over the last 52 weeks. A look at the stock’s price movement, the close in the last trading session was 12.45, moving within a range at 12.23 and 12.50. (NASDAQ:WBD) stock closed at $15.02 per share. (NASDAQ:WBD) price on Thursday, June 29, fall -0.24 below its previous day’s close as a downside momentum from buyers pushed the stock’s value to 12.42. (NASDAQ:WBD) is a media and entertainment company. It was formed from the spin-off of WarnerMedia by AT&T, and its merger with Discovery, Inc. (NASDAQ: WBD) in the Q4 2022 investor letter. ( WBD) is an American multinational mass media and entertainment conglomerate headquartered in New York City. In addition, please check the fund’s top five holdings to know its best picks in 2022.Īrtisan Value Fund highlighted stocks like Warner Bros. Positive stock selection led to the outperformance of the fund in the quarter. Its Investor Class fund ARTLX returned 14.04%, Advisor Class fund APDLX posted a return of 14.14%, and Institutional Class fund APHLX returned 14.10% in the quarter, compared to a 12.42% return for the benchmark index. In the fourth quarter, the fund outperformed the Russell 1000 Value Index. A copy of the same can be downloaded here. Artisan Partners, an investment management company, released its “Artisan Value Fund” fourth quarter 2022 investor letter.
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