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Warner Bros. Entertainment Inc. (commonly known as Warner Bros. and abbreviated as WB), is an American diversified multinational mass media and entertainment conglomerate headquartered at the Warner Bros. Studios complex in Burbank, California, and a division of AT&T's WarnerMedia. Founded in 1923 by brothers Harry, Albert, Sam, and Jack Warner, the company established itself as a leader in the American film industry before diversifying into animation, television, and video games, and is one of the "Big Five" major American film studios, as well as a member of the Motion Picture Association (MPA).
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Tech, Media Stocks Sink In Market Selloff As Dow Sheds 1,200 Points On Inflation Woes

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Media stocks and broader markets swooned Tuesday with all three major indexes posting their worst session since June of 2020 on news that consumer prices last month rose more than expected.The brutal selloff hit tech and media stocks hard with Apple, Roku and Google down about 6%, Amazon and Snap off 7%, Spotify losing more than 8% and Facebook 9%.Netflix retreated 7%, as did Paramount Global.

Comcast shed 6%, Lionsgate close to 5% and Disney nearly 4%. Warner Bros. Discovery shares dipped 2.7%The DJIA surrendered 1,276 points, or nearly 4%.

The Nasdaq dropped by more than 5%, and the S&P 500 4.3%.Inflation – which hit a 40-year high earlier this year — is the culprit.The Bureau of Labor Statistics released its Consumer Price Index (CPI) for August early today and it showed smaller than expected declines.

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