Discovery Inc. and AT&T Inc. have announced that they have closed the merger combining WarnerMedia and Discovery. The combination is set to create a standalone global media and entertainment company called Warner Bros Discovery Inc. which will start trading on Nasdaq with under the new ticker symbol WDB on Monday, April 11.
Warner Bros Discovery will be an avenue for the creation and distribution of the “world’s most differentiated and complete portfolio of content, brands, and franchises across television, film, and streaming.” The newly formed company fuses premium entertainment, sports, and news assets with Discovery’s leading non-fiction and international entertainment as well as sports businesses, inclusive of Discovery Channel, HBO, HBO MAx, HGTV, Food Network, Investigation Discovery,TLC, TNT, TBS, truTV, Travel Channel, MotorTrend, Animal Planet, Science Channel, New Line Cinema, Cartoon Network, Adult Swim, Turner Classic Movies and others.
“Today’s announcement marks an exciting milestone not just for Warner Bros. Discovery but for our shareholders, our distributors, our advertisers, our creative partners and, most importantly, consumers globally,” said David Zaslav, Warner Bros. Discovery chief executive officer. “With our collective assets and diversified business model, Warner Bros. Discovery offers the most differentiated and complete portfolio of content across film, television and streaming. We are confident that we can bring more choice to consumers around the globe while fostering creativity and creating value for shareholders. I can’t wait for both teams to come together to make Warner Bros. Discovery the best place for impactful storytelling.”
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