Robert WayInvestment thesis: Warner Bros. Discovery (NASDAQ:WBD) reported 1Q24 earnings earlier this month. I’m initiating the stock with a buy rating based on two factors I see playing out simultaneously: 1. Consistent debt reduction, and 2. Improving profitability in Warner Bros Discovery's Direct-To-Consumer or DTC segment is an impressive milestone, considering others in the streaming peer group, e.g., Disney (DIS) and Paramount (PARA), struggle to achieve that. I attribute the former to management’ ...