This year, David Ellison managed to do for Warner Bros. Discovery what WBD CEO David Zaslav had struggled to do for more than three years: dramatically boost the market value of the company that combined Discovery and Warner Bros.
Shares of Warner Bros. Discovery, formed in April 2022, zoomed to all-time highs in 2025 — up more than 170% for the year. WBD as of Dec. 30 has a market capitalization of $71.8 billion, up from about $25 billion at the start of the year.
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