Discovery Combines with AT&T's WarnerMedia to Form Warner Bros. Discovery
April 8, 2022
Discovery, Inc. and AT&T have closed the transaction that combines AT&T's WarnerMedia business with Discovery to form Warner Bros. Discovery. Under the Reverse Morris Trust structure, AT&T received cash and shares of the new company while Discovery shareholders own the remaining stake, creating a global media and streaming leader.
- Buyers
- Discovery, Inc.
- Targets
- WarnerMedia
- Sellers
- AT&T Inc.
- Industry
- Media & Entertainment
- Location
- New York, United States
- Transaction Type
- Divestiture
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