Discovery and AT&T Close WarnerMedia Transaction to Form Warner Bros. Discovery

April 8, 2022

Discovery and AT&T closed their transaction combining WarnerMedia with Discovery in a Reverse Morris Trust structure. The result is Warner Bros. Discovery, Inc., which began trading on Nasdaq under the ticker “WBD” on April 11, with AT&T shareholders receiving about 71% of the new company on a fully diluted basis.

Buyers
Discovery, Inc., AT&T Inc.
Targets
WarnerMedia
Location
United States
Transaction Type
Divestiture

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