Warner Bros. Discovery's Global Networks Not Getting Enough Credit -- Market Talk

Dow Jones01-15

0900 ET - Paramount Skydance has asserted that Warner Bros. Discovery's Global Networks linear TV business has no equity value, but that may be off-base, says Benchmark analyst Matthew Harrigan. He says it's arguable that Warner Bros. Discovery's stock price has been influenced by the implications of Versant's struggles on the valuation of WBD's Global Networks. Versant shares tumbled immediately after the spinoff from Comcast earlier this month, but Harrigan says that the stock is "settling out more reasonably after initial distribution dislocations." The analyst thinks Global Networks is readily worth $4 to $5 per WBD share. He also makes the point that Global Networks and Versant are not mirror images of each other, with Global Networks having highly diversified sports versus Versant's offerings, and CNN's unique global newsgathering presence compared with Versant's MSNOW. (nicholas.miller@wsj.com)

(END) Dow Jones Newswires

January 15, 2026 09:01 ET (14:01 GMT)

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