Discovery Global Can Sell Warner Bros. 20% Stake Before Split, CFO Says

Discovery Global will have the option to sell its 20% stake in Warner Bros. prior to the two entities' official separation in 2026, Warner Bros. Discovery chief financial officer Gunnar Wiedenfels revealed on Wednesday. "It's gonna be a trade off because we want to get the full value for it," Wiedenfels, who will lead Discovery Global as CEO, told an investor conference hosted by Bank of American on Wednesday. "It's a huge building block in this whole transaction to get an equity injection at the right valuation and an accretive multiple to help with the delevering path. So . . .