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News Spotlights Stocks

WBD: HBO Max to Drop HBO From Its Name, Stock Sells Off

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Nostalgia is hitting hard as the premium-sounding HBO name will no longer be there for the generations.

HBO Max will undergo a name change next month and will no longer carry the HBO acronym millennials grew up with. Meet Max – the new brand that will foster the same blockbuster shows like The Last of Us and Succession. The service promises better search and faster response times.

The makeover plan didn’t enjoy a warm reception in the markets. Investors offloaded their shares of HBO Max’s owner, Warner Bros. Discovery, which closed Wednesday’s session lower by roughly 6%. The group was formed in April 2022 when AT&T’s Warner Media got spun off and merged with Discovery.

The new streamer Max will officially be rolled out on May 23. It aims to position the platform to compete better with rivals such as Netflix and Disney. As far as pricing is concerned, there will be no change from current subscription fees going for roughly $16 a month.

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