The multi-billion-dollar war over the legendary media company Warner Bros. Discovery may, unexpectedly, come down to how much the old, dying cable business called Discovery Global is actually worth.
Paramount CEO David Ellison argues that Discovery Global — made up of cable networks like celebrity.land, TBS, Food Network and HGTV — is worth somewhere between nothing and 50 cents per share. Warner Bros. Discovery’s board disagrees, pegging it closer to $3 to $5 per share, based on estimates from some Wall Street analysts.
Who is right? Financial analysts who spoke to TheWrap lean towards Warner’s calculation, arguing that Discovery Global holds more equity value than Paramount is letting on. That’s especially the…
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