AT&T with Discovery announces $43 billion deal to merge WarnerMedia
By MYBRANDBOOK
AT&T and Discovery have announced a definitive agreement to combine WarnerMedia’s premium entertainment, sports and news assets with Discovery's leading nonfiction and international entertainment and sports businesses to create a standalone global entertainment company.
Under the terms of the agreement, AT&T would receive $43 billion (subject to adjustment) in a combination of cash, debt securities, and WarnerMedia's retention of certain debt. AT&T's shareholders would receive stock representing 71% of the new company; Discovery shareholders would own 29% of the new company. The boards of directors of both AT&T and Discovery have approved the transaction.
A statement said companies with shared values, complementary assets and iconic brands and franchises will offer the most differentiated content portfolio in the world. Also, WarnerMedia and Discovery Inc. form one of the largest global streaming players.
The new company will compete globally in the fast-growing direct-to-consumer business– bringing content to DTC subscribers across its portfolios, including HBO Max and the recently launched discovery+. The new company will be also able to invest in more original content for its streaming services, enhance the programming options across its global linear pay TV and broadcast channels, and offer more innovative video experiences and consumer choices.
The companies announced that Discovery President and CEO David Zaslav will lead the proposed new venture with a management team and top operational and creative leadership from both the companies.
BREAKING NEWS
TECHNO TRENDS
The latest version of X helps prevent deepfakes on social medi
To combat deepfakes and shallowfakes, Elon Musk revealed a new update t...
India and Namibia collaborate on a payment system similar to U
Once operational, the platform will enable digital transactions in Namibia,...
Sebi issues show-cause notices to six Adani group firms
Sebi issued show-cause notices to six Adani Group firms, including Adani ...
Microsoft to build a new data centre to support Thailand's tec
Microsoft has revealed intentions to construct a regional data centre as w...
E-Magazine
TECHNOTAINMENT
Airtel Xstream Play strengthens regional content library, part
Bharti Airtel (“Airtel”), one of India’s leading telecommunications
ED attaches Raj Kundra, Shilpa Shetty’s Rs 97 crore worth as
The Enforcement Directorate (ED) has seized businessman Raj Kundra's pro
MOVERS & SHAKERS
UiPath ropes in Raghu Malpani as Chief Technology Officer
UiPath has announced Raghu Malpani as Chief Technology Officer. Malpani w
DigiCert names Atri Chatterjee as CMO
DigiCert has announced the appointment of Atri Chatterjee as Chief Market
OPEN YOUR EYES
INTERVIEWS
Elastic democratizing search with powerful AI and ML-enabled s
Elastic is always committed to staying ahead of the curve and constantly re
ESDS commits to presenting clients with the latest technology
According to a NASSCOM report, the Indian IT industry experienced its stron
HOT PICK
COLORFUL rolls out an array of gaming laptops
COLORFUL launched its incredible series of COLORFUL EVOL P15 gaming laptop
Dell Technologies launches new AI-powered commercial PC portfo
Dell Technologies has launched the broadest portfolio of commercial AI lap
MAKE IN INDIA BRANDS
VERSA NETWORKS INDIA PVT. LTD.
NETWEB TECHNOLOGIES INDIA LTD.
AMARA RAJA POWER SYSTEMS LTD.
TATA CONSULTANCY SERVICES
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Technology Icons Of India 2023: Amitabh Kant
Amitabh Kant is presently the G20 Sherpa of India during its Presidenc...
Technology Icons Of India 2023: Aalok Kumar
Aalok continues to lead the India business and further strengthen Indi...
Technology Icons Of India 2023: Anant Maheshwari
As President of Microsoft India, he is responsible for Microsoft’s o...
PARTNER SPEAKERS
PSU
PGCIL transforming India with its wide power transmission network
Engaged in power transmission, POWERGRID or PGCIL is a stated owned In...
STPI encouraging software exports from India
Software Technology Parks of India (STPI) is an S&T organization under...
Leading company into fertilizers in the country
NFL is a dynamic organization committed to serve the farming community...
VIDEOS
Top 25 Brands
Value-Added Distribution
ACCERON INFOSOL PVT. LTD.
It is a leading value added distributor in the IT security space and h...
INTEGRA MICRO SYSTEMS PVT. LTD.
Integra is a leading provider of innovative hi-technology products an...
R P TECH INDIA
R P Tech is recognized for its diverse products portfolio, value-add...
ITFORUM 2024
WIITF 2024
CMO of the Year
WOMEN LEADERSHIP
EMINENT CIO's OF INDIA
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
