Warner Bros Discovery drops after investor sells 100 million shares in block sale
ReutersJul 1, 2025 1:04 PM
Shares of media company Warner Bros Discovery WBD.O fall 4.9% to $10.91 premarket
A/NPP Diversified Holdings LLC and Advance/Newhouse Partnership agreed to sell 100 million shares of WBD in a block sale at $10.97 per share, representing a discount of ~4% to media firm's last close of $11.46
After the sale, A/NPP Diversified Holdings LLC owns about 98 million shares, or 3.97% of WBD's series A common stock
As of last close, WBD up ~8% this year
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