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WarnerMedia and Discovery finalise merger

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Combined company, Warner Bros Discovery, set to start trading on the Nasdaq

Bengaluru — AT&T’s WarnerMedia unit and Discovery have completed their merger, the companies said on Friday.

In May 2021 the companies set out to merge and become a stand-alone media business, with AT&T aiming to focus more on its wireless ambitions and Discovery looking to beef up its content library. Warner Bros Discovery’s portfolio includes Discovery Channel, Warner Bros Entertainment, CNN, HBO, Cartoon Network; streaming services Discovery+ and HBO Max; and franchises such asA top priority for David Zaslav, the long-time Discovery veteran leading the combined entity, is to make streaming video as profitable as the old TV business, analysts said.

 

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