Discovery and WarnerMedia have closed their $43 billion merger, creating a top-scale media player and streaming contender and ending an ill-fated foray into entertainment by AT&T.The combination will unite such disparate assets as HBO, CNN and the nearly 100-year-old Warner Bros film studio with unscripted programming juggernauts like Food Network, HGTV and 90 Day Fiancé.
It is the most consequential media merger since Disney bought most of 21st Century Fox in 2019, and it leaves the kinds of questions that that mega-deal prompted about comings and goings in the executive ranks. (For now, the Discovery guard is largely in charge under CEO David Zaslav.
Toby Emmerich, Casey Bloys and Channing Dungey, heads of Warner Bros Pictures, HBO and Warner Bros TV, respectively, have gotten votes of confidence.)Under the all-stock, Reverse Morris Trust transaction, AT&T is getting a combination of cash, debt securities and WarnerMedia’s retention of some of its debt.
Shareholders in the telecom giant have gotten stock representing 71% of the new company. Discovery shareholders own 29% of the new company.
Read more on deadline.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.