AT&T Spinoff and Merger of WarnerMedia with Discovery to Form Warner Bros. Discovery
April 8, 2022
AT&T determined to spin off its interest in WarnerMedia to its shareholders, followed by the merger of WarnerMedia with Discovery in an all-stock Reverse Morris Trust transaction. The deal was expected to close in the second quarter of 2022, creating a standalone global entertainment and streaming company, Warner Bros. Discovery (WBD).
- Buyers
- Warner Bros. Discovery, Inc., Discovery, Inc.
- Targets
- WarnerMedia, Discovery, Inc.
- Sellers
- AT&T (spinning off WarnerMedia interest to its shareholders)
- Industry
- Media & Entertainment
- Location
- Texas, United States
- Transaction Type
- Buyout
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