Warner Bros. Discovery Stock News

Legendary billionaire investor Bill Nygren and his team over at the Oakmark Select fund made quite a few notable moves in the second quarter.

The media giant's CEO David Ellison is hoping his new super lawyer can entice David Zaslav to sell most if not all of Warner Bros. Discovery.

The S&P 500 index of 500 of America's biggest companies gained a solid 3.5% in September -- its fifth consecutive monthly gain. If 3.5% doesn't seem like a lot, remember that it's just a month's gain.

Warner Bros. Discovery, Inc. stock has suffered due to reorganizations and write-offs. Skepticism about turnaround stories creates contrarian opportunities for WBD investors (especially in this case). WBD management is credited for addressing issues thoroughly, prioritizing long-term fixes over quick results.

Fueled by continued takeover speculation, media and entertainment giant Warner Bros. Discovery (WBD -0.84%) just delivered its single-best monthly gain in its 17-year trading history, with a 67% sprint higher in September.

Ballooning Hollywood budgets have sent many productions out of the U.S. in recent years. While some domestic production hubs have cropped up, lucrative tax incentives and lower labor costs are luring projects to other countries.

Warner Bros. is up 63% since Sept.

Disney announced price hikes this week for services including Disney+ and Hulu, the most recent of many streaming service plan cost increases this year that have included Apple TV+, Netflix, Discovery+, Peacock, Dropout.tv, Paramount+ and Fubu. Credit Karma research puts streaming at the top of consumer's non-essential priorities, which gives media companies more leeway to raise prices.