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Warner Bros. Discovery Hints at Future Deals; Stock Sinks

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Warner Bros. Discovery Chief Executive David Zaslav said the company is now in a position to spend more on potential acquisitions after paying off billions of dollars of debt.

“We could be really opportunistic over the next 12 to 24 months,” Zaslav said on a call with analysts to discuss the company’s quarterly results. Warner Bros. Discovery said its streaming business swung to a profit but lost subscribers.

Its shares were down about 16% in afternoon trading.

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