The world of television, film and live broadcasting is being enriched by a new and powerful pole of production and distribution. Boy Warner Bros. Discovery, a global leader in entertainment and live broadcasting. Discovery, Inc. and AT&T Inc. (NYSE: T) announced the closing of the deal for Integrating WarnerMedia’s business with Discovery. The new company is called Warner Bros. Discovery, Inc. It will debut on the Nasdaq on Monday, April 11, under the new symbol “WBD”. “Represents advertising A new beginning Not just for Warner Bros. Discovery but to all contributors, distributors, advertisers and creative partners, but above all, For consumers around the world. – announce David ZaslavAnd CEO of Warner Bros. Discovery With all of our assets and a diversified business model, Warner Bros. Discovery offers the world’s full range of content, film, TV and live streaming brands.”
Warner Bros. will Discovery creates and distributes The world’s most comprehensive collection of entertainment content and brands. The new company combines WarnerMedia’s premium entertainment, sports and news offerings with Discovery’s leading international entertainment and sports properties, including Discovery Channel, discovery+, Warner Bros. Entertainment, CNN, CNN+, DC, Eurosport, HBO, HBO Max, HGTV, Food Network, Discover Investigations, TLC, TNT, TBS, truTV, Travel Channel, MotorTrend, Animal Planet, Science Channel , New Line Cinema, Cartoon Network, Adult Swim, Turner Classic Movies and many more.
Under the terms of the Agreement, structured as a Reverse Morris Trust transaction, In conclusion, AT&T received $40.4 billion in cash And some debt maintained by WarnerMedia. In addition, AT&T shareholders received 0.241917 shares of WBD for each AT&T common share. Subsequently, AT&T shareholders received 1.7 billion shares of WBDIt represents 71% of WBD shares. Existing Discovery shareholders own the remainder of the new company. In addition to the new WBD common stock, AT&T shareholders will continue to hold the same number of AT&T common shares that they owned just prior to the close.
“It is the dawn of a new era for connectivity and for AT&T. With this transaction closing, we expect to invest at record levels in the growth areas of 5G and fiber, where we have strong momentum, as we work to become a leading broadband player in America.” – he added. John StankyAnd CEO At & T – At WarnerMedia, Discovery inherits an innovative, talented team and dynamic companygrowing and global, and is well positioned to lead the transformation occurring in media, entertainment, direct-to-consumer distribution, and technology.”
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