✖ At the conclusion of business today Discovery and AT&T have announced that the planed transaction combing WarnerMedia and Discovery into one entity has closed. Officially named Warner Bros. Discovery, Inc, the new company will combine everything under the WarnerMedia umbrella including DC, HBO, New Line Cinema, Adult Swim, and Cartoon Network with all that was owned by Discovery like TLC, HGTV, Travel Channel, and discovery+.
"Today's announcement marks an exciting milestone not just for Warner Bros. Discovery but for our shareholders, our distributors, our advertisers, our creative partners and, most importantly, consumers globally," said David Zaslav, Warner Bros. Discovery chief executive officer."With our collective assets and diversified business model, Warner Bros. Discovery offers the most differentiated and complete portfolio of content across film, television and streaming.
Added John Stankey, AT&T chief executive officer,"In WarnerMedia, Discovery inherits a talented and innovative team and a dynamic growing and global company that is well positioned to lead the transformation that's taking place across media and entertainment, direct-to-consumer distribution and technology. The combination of the two companies will strengthen WarnerMedia's established and leading position in media and streaming.
As part of the acquisition, AT&T received $40.4 billion in cash and the retention of some debts by WarnerMedia, less than half what the telecom giant paid for Warner when they acquired them back in 2018. It was previously confirmed by Discovery CFO Gunnar Wiedenfels that the company would work toward a proper merger of their streaming efforts quickly, specifically hoping for months rather than years as a timeline.
0comments"One of the most important items here is that we believe in a combined product as opposed to a bundle... We believe that the breadth and depth of this content offering is going to be a phenomenal consumer value proposition," Wiedenfels said at a conference last month ."The question is, in order to get to that point and do it in a way that's actually a great user experience for our subscribers, that's going to take some time.
Now do me a favor and announce you have no intention of restoring the Snyderverse to kill the hearts of millions of fans
HGTV crosses over with DC universe. The property brothers remodel the justice league hall of justice.
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A new day a new company is now here.1st order of business ..... get all of the creative Talent back. ZACK SNYDER, Christopher Nolan David Ayer.
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