Warner Bros Discovery Stock Soars After Multi-Year Deal with Comcast; Comcast Shares Slide On Subscriber Loss Estimates

Warner Bros. Discovery, Inc WBD stock gained Monday following its multiyear deal with Comcast Corp CMCSA.

Warner Bros Discovery agreed to offer its extensive content portfolio to Xfinity and Sky UK and Ireland customers, leveraging Comcast’s global technology platform across linear television, apps, and streaming services.

Comcast inked renewal agreements that promote the company’s longstanding distribution relationship with Warner Bros Discovery’s portfolio of linear cable networks for Xfinity TV customers.

Also Read: Warner Bros. Secures 11-Year NBA Deal Extension

The agreements also provide continued carriage of HBO and expand Comcast’s rights to package the ad-supported versions of Max and Discovery+ in its streaming bundles. Comcast will also continue to offer Warner Bros Discovery content as part of its U.S. NOW TV streaming services.

Warner Bros. Discovery Chief Revenue and Strategy Officer Bruce Campbell said Sky UK is an ideal partner in the UK and Ireland as the company prepares for Max’s launch in early 2026. Max added 7.2 million new subscribers in the third quarter, marking its highest quarterly growth since its launch.

Comcast stock tanked after Comcast Cable CEO Dave Watson told Reuters at the UBS Global Media and Communications conference on Monday that it expects broadband subscriber losses to be slightly above 100,000 in the fourth quarter, compared to the estimated 64,400 Visible Alpha consensus subscriber loss.

Comcast lost 87,000 broadband customers in the third quarter as it grappled with competition from telecom companies. Recently, Comcast shared plans to spin off select cable networks and digital assets into a new publicly traded entity called SpinCo, which Goldman Sachs analyst Michael Ng expects to boost CNBC and MSNBC monetization and accretive to revenue growth.

Price Actions: WBD stock is up 3.28% at $11.01 at the last check Monday. CMCSA is down 8.32%.

Also Read:

• Struggling Chipmaker Microchip Hits Pause On Biden Semiconductor Subsid

Photo courtesy: Shutterstock.