AT&T/ Discovery merger and T dividend

[steelyman]

I see as WBDWV on ETrade. I don't see WBVWV.

You’re right. Typo on my part!

 

[bobandsherry]

You’re right. Typo on my part!

Ah, ok. Wasn't sure if typo or if there was still some a ticker that hadn't been migrated.

 

[steelyman]

Article today says the ticker will be WBD when trading starts.

 

[ownyourfuture]

New shares did very well this past Friday. Hopefully this continues.

 

[target2019]

I'm back on the bandwagon, and feel both companies will be successful. The new company looks to be #1 in streaming:

Warner Bros. Discovery will create and distribute the world’s most differentiated and complete portfolio of content, brands and franchises across television, film and streaming. The new company combines WarnerMedia’s premium entertainment, sports and news assets with Discovery’s leading non-fiction and international entertainment and sports businesses, including Discovery Channel, discovery+, Warner Bros. Entertainment, CNN, CNN+, DC, Eurosport, HBO, HBO Max, HGTV, Food Network, Investigation Discovery, TLC, TNT, TBS, truTV, Travel Channel, MotorTrend, Animal Planet, Science Channel, New Line Cinema, Cartoon Network, Adult Swim, Turner Classic Movies and others.

https://about.att.com/story/2022/close-warnermedia-transaction.html

Of course releases are written to make me feel positive, but I think T will also recover. The dividend rate is competitive with VZ, and the company refocuses on core business.

For the rest of this year we'll decide if we should increase these positions or sell and add to SCHD.

 

[steelyman]

AT&T/ Discovery merger and T dividend

I bought enough additional WBD this morning to bring my total shares post spinoff up to a round lot. I’ll just sit on my hands for a while and see how things go.

 

[Montecfo]

Longtime holders/true believers selling WBD and buying T is what is driving positive price action.

I may trade the stock but not until a trading range and some div history is established. There appears to be little upside and the stock has significant interest rate risk in a rising rate environment.

 

[m3bs]

So how do I figure my new cost basis for T and WBD? 79/21 split of original T basis? I couldn’t make much sense out of the document they sent out. The merger complicates things a bit.

 

[wmc1000]

My fidelity account today has a new cost breakdown for all shares for both stocks

 

[m3bs]

My fidelity account today has a new cost breakdown for all shares for both stocks

I hold some in both Schwab and TDA accounts (don’t ask why..). Neither has updated as of this morning. Guess I need to keep watching.

 

[steelyman]

I noticed a similar discrepancy for a spinoff I held at both Fidelity and Schwab. Fidelity updated the basis quickly, Schwab never did.

 

[ownyourfuture]

WBD doing well today.......27.39 +2.71 (+11.18%)

I owned T in both my IRA & HSA long before the spin off, but the total return shown for WBD is different ?
I only own the shares that were spun off. (never bought WBD directly)

 

[steelyman]

AT&T/ Discovery merger and T dividend

WBD doing well today.......27.39 +2.71 (+11.18%)

I owned T in both my IRA & HSA long before the spin off, but the total return shown for WBD is different ?

I only own the shares that were spun off. (never bought WBD directly)

Odd. Were the T shares in IRA & HSA acquired at different times?

 

[wmc1000]

WBD shares were allocated based on purchase dates of original ATT shares so cost basis is different for WBD shares based on those ATT purchased dates.

 

[ownyourfuture]

WBD shares were allocated based on purchase dates of original ATT shares so cost basis is different for WBD shares based on those ATT purchased dates.

That explains it.
Thanks