AT&T Board Meets as Discovery Merger Discussions Accelerate; Shock Reverberates Around WarnerMedia

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Negotiations for a potential merger of WarnerMedia and Discovery accelerated on Sunday as the shock of a possible transaction ricocheted around the halls of HBO, Warner Bros. and other legacy Time …

accelerated on Sunday as the shock of a possible transaction ricocheted around the halls of HBO, Warner Bros. and other legacy Time Warner companies that have been on a roller-coaster ride of disruption since 2016.leadership was meeting Sunday to discuss the transaction. Multiple sources said AT&T board members gathered Sunday to discuss the details of the transaction taking shape, the details of which broken early Sunday by Bloomberg News.

The valuation under discussion is understood to be well over $100 billion. Discovery CEO David Zaslav would be atop the combined venture. WarnerMedia CEO Jason Kilar would lead the company’s direct to consumer charge.

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