AT&T Confirms $43 Billion Deal To Combine WarnerMedia With Discovery.
AT&T Confirms $43 Billion Deal To Combine WarnerMedia With Discovery.
AT&T and Discovery, Inc.
Made the announcement on May 17.
The agreement would see the formation of a new media company with Discovery, separate from AT&T.
According to 'The Financial Times,' that new business could be valued at as much as $150 billion.
The media powerhouse would be able to compete with the likes of Netflix and Disney.
The media powerhouse would be able to compete with the likes of Netflix and Disney.
AT&T would receive $43 billion (subject to adjustment) in a combination of cash, debt securities, and WarnerMedia's retention of certain debt, Via AT&T's website.
Discovery's shareholders would receive stock representing 29% of the company, while AT&T's shareholders would get 71%.
To be one of the best global media companies requires not only broad and deep creative assets, but an investor base and access to capital to make it happen.
, AT&T CEO John Stankey, via memo to WarnerMedia staffers.
The decision to combine WarnerMedia with Discovery is rooted in this conclusion, AT&T CEO John Stankey, via memo to WarnerMedia staffers.
The deal is subject to regulatory approval.
It is expected to close in mid-2022
