AT&T to spin off WarnerMedia in $43 billion Discovery media merger

📆 2022/02/01 23:46:00
📰 ChannelNewsAsia

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AT&T Inc said on Tuesday it will spin off WarnerMedia in a $43 billion transaction to merge its media properties with Discovery Inc.The U.S. telecoms group will distribute shares of the new Warner Bros. Discovery as a dividend of $1.11 per share, down from $2.08 per share.AT&T shareholders will own

AT&T Inc said on Tuesday it will spin off WarnerMedia in a $43 billion transaction to merge its media properties with Discovery Inc.

AT&T shareholders will own 71per cent of the new Warner Bros. Discovery company and will receive a 0.24 shares of Warner Bros. Discovery for each AT&T share they own. "We are confident both equities will soon be valued on the solid fundamentals and attractive prospects they represent."

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