Discovery Stock Price Down 50% Since CNN Merger
What happened: Media conglomerate Discovery has seen its stock price cut in half since completing its merger with CNN parent company WarnerMedia in April 2022.
Warner Bros Discovery shares opened at $11.84 on Friday, down from $24.88 in the days following the merger and the failed launch of CNN+, the premium streaming service that was shut down after a month. That's a decline of more than 50 percent over the past 13 months.
What it means: CNN has already fired a number of partisan hacks—Don Lemon, Brian Stelter, Chris Cuomo, John Harwood, and Zoom masturbator Jeffrey Toobin—but the market remains unimpressed. CNN must take further action to restore the public's trust in its tarnished brand.
Context: The once-venerable network still hasn't fired Jim Acosta.
Bottom line: Former president Donald Trump was the best thing to ever happen to the mainstream media. Their ratings have fallen off a cliff since President Joe Biden took office. That's why they desperately want Trump to win the Republican nomination, and will stop at nothing to make it happen. CNN is hosting a town hall with Trump next week.
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