Discovery Issues Statement On Recent Market Price Volatility Of Series A And Series C Common Stock

Rhea-AI Summary

On March 26, 2021, Discovery (Nasdaq: DISCA, DISCB, DISCK) addressed market volatility, clarifying that the day's trading activity was not linked to insider transactions. The company reaffirmed its first-quarter 2021 outlook, initially issued on February 22, and reiterated its confidence in its strategic execution across traditional and direct-to-consumer platforms. Discovery looks forward to its Q1 earnings release and investor call scheduled for May 10, 2021. The company also issued a caution regarding forward-looking statements, citing potential risks affecting actual results.

Positive

• Reaffirmed first-quarter 2021 financial outlook, instilling investor confidence.
• Positive sentiment regarding strategic execution in both traditional and direct-to-consumer segments.
• Anticipation of Q1 earnings release and investor call may attract investor interest.

Negative

• Cautionary statements highlight potential risks and uncertainties affecting future business performance.

SILVER SPRING, Md., March 26, 2021 /PRNewswire/ -- Discovery (Nasdaq: DISCA, DISCB, DISCK) today announced that today's trading activity is not the result of insider transactions or transactions by Advance/Newhouse Programming Partnership or its affiliates.

The Company issued its outlook for the first quarter of 2021 on February 22, 2021 and provided additional guidance at the Deutsche Bank TMT Conference on March 8, 2021, and is comfortable reaffirming its outlook and the additional guidance.  The Company is confident in and pleased with the execution of its strategy, both with respect to its traditional business and the direct to consumer roll out.  It looks forward to releasing first-quarter results and hosting its quarterly investor call on May 10, 2021. 

Cautionary Statement Concerning Forward-Looking Statements
This press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, forecasts and assumptions that involve risks and uncertainties and on information available to the Company as of the date hereof. The Company's actual results could differ materially from those stated or implied, due to risks and uncertainties associated with its business, which include the risk factors disclosed in its 2020 Annual Report on Form 10-K filed with the SEC on February 22, 2021.

Forward-looking statements include statements regarding the Company's expectations, beliefs, intentions or strategies regarding the future, and can be identified by forward-looking words such as "anticipate," "believe," "could," "continue," "estimate," "expect," "intend," "may," "should," "will" and "would" or similar words. Forward-looking statements in this release include, without limitation, statements regarding investing in the Company's programming, strategic growth initiatives, changes in the pay-TV ecosystem, and the impact of COVID-19. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

About Discovery

Discovery, Inc. (Nasdaq: DISCA, DISCB, DISCK) is a global leader in real life entertainment, serving a passionate audience of superfans around the world with content that inspires, informs and entertains. Discovery delivers over 8,000 hours of original programming each year and has category leadership across deeply loved content genres around the world. Available in over 220 countries and territories and nearly 50 languages, Discovery is a platform innovator, reaching viewers on all screens, including TV Everywhere products such as the GO portfolio of apps; direct-to-consumer streaming services such as discovery+, Food Network Kitchen and MotorTrend OnDemand; digital-first and social content from Group Nine Media; a landmark natural history and factual content partnership with the BBC; and a strategic alliance with PGA TOUR to create the international home of golf. Discovery's portfolio of premium brands includes Discovery Channel, HGTV, Food Network, TLC, Investigation Discovery, Travel Channel, MotorTrend, Animal Planet, Science Channel, and the forthcoming multi-platform JV with Chip and Joanna Gaines, Magnolia Network, as well as OWN: Oprah Winfrey Network in the U.S., Discovery Kids in Latin America, and Eurosport, the leading provider of locally relevant, premium sports and Home of the Olympic Games across Europe. For more information, please visit corporate.discovery.com and follow @DiscoveryIncTV across social platforms. 

View original content:http://www.prnewswire.com/news-releases/discovery-issues-statement-on-recent-market-price-volatility-of-series-a-and-series-c-common-stock-301256877.html

SOURCE Discovery, Inc.

FAQ

What did Discovery announce on March 26, 2021 regarding trading activity for DISCK, DISCB, DISCA?

Discovery clarified that recent trading activity was not due to insider transactions, ensuring transparency for its investors.

What is Discovery's outlook for Q1 2021?

Discovery reaffirmed its initial Q1 2021 outlook issued on February 22, 2021, indicating stability in its financial performance.

When will Discovery release its Q1 2021 earnings?

Discovery is scheduled to release its Q1 2021 earnings results and hold an investor call on May 10, 2021.

What risks did Discovery mention in its March 26, 2021 press release?

The press release included cautionary statements about forward-looking risks and uncertainties that could affect the company's actual results.