AT&T and Discovery To Merge

[RAMROD 96,176]

 

AT&T and Discovery Inc. have made it official, unveiling their plan to merge their media and entertainment assets in a deal that will bring together TV channels like CNN, TBS, TNT, HGTV, Food Network and Discovery Channel, the Warner Bros. film studio, and streaming services HBO Max and Discovery+.

 

They said the merger would create a “global leader in entertainment” and “a stronger competitor in global streaming.”

The transaction will combine WarnerMedia’s storied content library of popular and valuable IP with Discovery’s global footprint, trove of local-language content and deep regional expertise across more than 200 countries and territories.

And they highlighted: “The new company will be able to invest in more original content for its streaming services, enhance the programming options across its global linear pay TV and broadcast channels, and offer more innovative video experiences and consumer choices.”

 

Under the terms of the deal, WarnerMedia and Discovery will merge through a complex all-stock transaction called a Reverse Morris Trust that would see AT&T receive $43 billion in cash, debt securities, and WarnerMedia’s retention of certain debt, and AT&T’s shareholders would receive stock representing 71 percent of the new company. 

 

Source:

https://www.hollywoodreporter.com/business/business-news/att-warnermedia-discovery-deal-official-1234954085/amp/

 

 

So HBO Max is shortlived

[heygurlhi 3,200]

hope the fcc doenst approve it  but considering how corrupt Biden administration is this will be green lit, great even more bloat for AT&T 

[OysterBaby 450]

Wow and Discovery just moved it’s HQ to my city a couple years ago when they bought Scripps. I wonder if that will change