Brian Steinberg Senior TV EditorAT&T and Discovery have gained clearance for their much-anticipated deal to spin off WarnerMedia so it can merge with Discovery, a deal that has already been approved in Europe.
The approval of Discovery shareholders is the last barrier to the deal moving forward.The companies disclosed the matter in two different filings Wednesday with the U.S.
Securities and Exchange Commission. The transaction is still expected to close in the second quarter.“The HSR Act statutory waiting period has expired or otherwise been terminated, and any agreement not to consummate the transaction between the parties and the Federal Trade Commission or the Antitrust Division of the United States Department of Justice or any other applicable governmental entity, has also expired or otherwise been terminated,” AT&T and Discovery each said in their respective filings.
The European Commission approved the deal in December.AT&T shareholders are not required to sign off on the pact. Last week, AT&T announced that its board has decided to spin off the telco’s interest in WarnerMedia — rather than structure the media conglom’s divestiture as a split-off.Under the pact, Discovery will gain control of WarnerMedia, adding the Warner Brothers studio, the TNT and TBS cable networks, CNN and HBO to its stable.
Read more on variety.com
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.