It’s official, Discovery and WarnerMedia have closed their $43 billion merger deal which ends AT&T short-lived marriage with the Time Warner empire.
The new Warner Bros Discovery company will bring together Warners properties like Warner Bros. Pictures, HBO, DC Films & TV, TNT, Cartoon Network and CNN with Discovery’s properties like HGTV, Food Network, Animal Planet and TLC. It’s “Game of Thrones” and “Batman” meets “90 Day Fiance” and “Shark Week”.
The key execs in charge of WB Pictures (Toby Emmerich), WB Television (Channing Dungey) and HBO (Casey Bloys) remain where they are, but a good portion of the top executive branch that has run WarnerMedia in recent years are out with Discovery execs taking over under new CEO David Zaslav.
Warner Bros Discovery stock is expected to begin full trading on Monday. This marks the most consequential media merger since Disney acquired 21st Century Fox in 2019 and creates one of the largest entertainment entities in existence.
Source: Deadline
