AT&T’s WarnerMedia & Discovery are merging to create a new streaming giant
The new company is expected to close in mid-2022.
What you need to know
AT&T’s WarnerMedia and Discovery are merging to create a new streaming service.
The new streaming service will globally compete.
AT&T would get $43 billion in a combination of cash, debt securities, and WarnerMedia’s retention of certain debt.
AT&T’s WarnerMedia and cable and streaming network Discovery are merging to create a new streaming giant.
AT&T owns HBO Max, which has some of the best shows, and Discovery owns lifestyle TV networks such as HGTV and TLC. AT&T is divesting its media business, WarnerMedia, which is its subsidiary. Under the deal, AT&T would get $43 billion in a combination of cash, debt securities, and WarnerMedia’s retention of certain debt. AT&T’s shareholders would own 71% of the new company.
The combined portfolio will have over 100 popular and trusted brands in one global portfolio, including HBO, Warner Bros., Discovery, DC Comics, CNN, Cartoon Networ…