Wall Street Shrugs Off Max As WBD Shares Dip 6%

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Wall Street Shrugs Off Max As WBD Shares Dip 6%
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Shares of Warner Bros. Discovery dipped nearly 6% today as the company took the wraps off its rebranded streaming service amid a flood of new programming announcements

Max Rebrand Sees Warner Bros. Discovery Return To Kids Space With Reboots & New Parental Controls

Discovery and Warner Media merged a year ago. The combined company carries a massive debt load and got off to a rocky start with the Street. Sentiment started to turn slightly this year as it cuts costs, streamlined programming and focused on deleveraging. Now, it’s blending HBO Max and Discovery+ with the combined offering to launch May 23.

J.B. Perette, WBD’s head of global streaming & games, promised to preserve and protect “one of the most iconic brands in television. HBO and Max content chief Casey Bloys said HBO is “not changing course at all.”

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