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Warner Bros. Discovery Plunges on Outlook for a ‘Messy’ 2022

  • CEO vows ‘swift and decisive action’ to find merger savings
  • Company has targeted $3 billion in synergies in new company
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Warner Bros. Discovery Could Be A $141B Powerhouse

Warner Bros. Discovery Inc. slumped in New York trading after management of the newly created media giant warned of a tough 2022 that will be “noisy” and “a little messier” than what its leadership expected.

Shares of the company, formed by the merger of Discovery Inc. and WarnerMedia, fell as much as 8.7% to $19.63, the lowest since the new company began trading earlier this month.