In 2021, AT&T Inc. and Discovery Inc. agreed to merge AT&T’s WarnerMedia assets with Discovery Inc.’s platform to create a standalone global entertainment company, now known as Warner Bros. Discovery Inc. Analysts are now comparing the new media firm with The Walt Disney Co. Evercore ISI analyst Vijay Jayant upgraded WBD to Outperform from In-Line with a price target of $40, down from $45…
Analysts Give Thumbs up to This Newly Formed Media Giant; Compare It to Disney
WarnerMedia CEO Departs One Week Before Discovery Merger
AT&T Inc. WarnerMedia CEO Jason Kilar stepped down before Discovery, Inc. completed the acquisition of WarnerMedia, Variety reports. The transaction will be complete on April 11. The departure was likely as Discovery chief David Zaslav looked to run the combined company, Warner Bros. Discovery. Kilar became the CEO of WarnerMedia in April 2020, just as it looked…
AT&T’s $43 Billion Plan to Merge WarnerMedia Unit With Discovery Is Given US Antitrust Clearance
February 10, 2022
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The U.S. Department of Justice on Wednesday approved AT&T’s $43 billion plan to merge its WarnerMedia unit with Discovery, the companies announced on Wednesday in a Securities and Exchange Commission filing. According to the filing (pdf), which was first obtained by TheWrap, Discovery and AT&T have “satisfied the closing condition” in the merger plan, which was initially announced on May 17,…
AT&T to Spin Off WarnerMedia in $43 Billion Discovery Merger, Cuts Dividend
AT&T Inc. said on Tuesday it will spin off WarnerMedia in a $43 billion transaction to merge its media properties with Discovery Inc. and also cut its dividend by nearly half. AT&T shareholders will own 71 percent of the new Warner Bros. Discovery company and will receive a 0.24 shares of Warner Bros. Discovery for…
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