Discovery is merging with Warner Media and as announced a new company after the merger will be formed, it will be called Warner Bros. discovery. The merger was announced last month.
Discovery’s CEO David Zaslav will be in the power of the merger company.
Warner Media is already a big company with around thrice the revenue in the year 2020 and a stage of iconic characters. discovery brings reality, tv news, and sports business in Europe to the table.
It is one of the biggest mergers of the time. It will be amazingly filled with collections and a variety of genres and across any platform from films to television and streaming.
Zaslav in an interview today said, the combined company is borrowing a line from the Warner Bros. classic the Maltese Falcon for its slogan which is “the stuff that dreams are made of“.
AT&T and discovery expect the merger to end by the year 2022, assuming the regulatory hurdles are cleared.
AT&T will own 71% of the share of the new company. It is like Warner Bros picking up discovery along the way of freeing itself from AT&T.