AT&T’s WarnerMedia And Discovery To Merge, Create New Company – Deadline

AT&T and Discovery Monday introduced a definitive settlement to mix WarnerMedia’s  premium leisure, sports activities and information property with Discovery’s main nonfiction and worldwide leisure and sports activities companies to create a premier, standalone world leisure firm led by Discovery CEO David Zaslav.

Underneath the phrases of the settlement, which is structured as an all-stock transaction, AT&T would obtain $43 billion in a mixture of money, debt securities, and WarnerMedia’s retention of sure debt, and AT&T’s shareholders would obtain inventory representing 71% of the brand new firm; Discovery shareholders would personal 29% of the brand new firm.

The Boards of Administrators of each AT&T and Discovery have authorised the transaction.

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