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2 Top Execs Scooped Up Shares of Warner Bros. Discovery (WBD) Stock

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WBD was a recent spin-off from AT&T and includes Discovery (Animal Planet, HGTV, etc.) and HBO. There are several studies showing that spin-offs and carve-outs, where a company splits into 2 or more companies, are beneficial for the spin-off (and often, but not always, for the parent company as well). In the case of AT&T and WBD, AT&T can now focus on wireless subscriber growth and WBD can focus on streaming. When NFLX reported adding fewer subscribers, WBD was also punished as a fellow streaming stock and it is currently trading signifcantly below its spin-off price. Two senior executives of WBD believe in the company so much that they purchased $2.5million worth of shares in the open market. I am long WBD as an investment and will likely add to my position.

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