Warner Bros. Discovery stock rises for second straight day as company pays down debt

  • 📰 CNBC
  • ⏱ Reading Time:
  • 10 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 7%
  • Publisher: 72%

Business News News

Business Business Latest News,Business Business Headlines

Warner Bros. Discovery said it paid off a chunk of debt this quarter, a development overshadowed by the departure of CNN chief Chris Licht.

Warner Bros. Discovery's stock rose in recent days after the company announced it was paying down some of its heavy debt load., Warner Bros. Discovery said it had repaid about $1.5 billion in debt on two of its loans. The company also announced it commenced a $500 million cash tender offer.

The analyst noted that Warner Bros. Discovery guided that it would have roughly $930 million in second quarter free cash flow, after ending the first quarter with $2.6 billion in cash.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks making the biggest moves midday: Affirm, Warner Bros Discovery, Stitch Fix, Campbell Soup and moreThese are the stocks posting the largest moves midday.
Source: CNBC - 🏆 12. / 72 Read more »

CNN CEO Chris Licht to leave - companyCNN Chairman and Chief Executive Chris Licht has stepped down from the media company, effective immediately, parent company Warner Bros. Discovery said on Wednesday.
Source: Reuters - 🏆 2. / 97 Read more »