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

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Warner Bros. Discovery stock rises for second straight day as company pays down debt
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Warner Bros. Discovery said it paid off a chunk of debt this quarter, a development overshadowed by the departure of CNN chief Chris Licht.

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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.

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