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
- Industry
- Media & Entertainment
- Location
- United States
- Transaction Type
- Divestiture
Explore More
Related Acquisitions
-
Paramount Skydance to Acquire Warner Bros. Discovery for $31 per Share in All-Cash Deal
February 27, 2026
Media & Entertainment
Paramount Skydance said Warner Bros. Discovery’s board has deemed its $31 per share all-cash offer a “Company Superior Proposal” under WBD’s existing merger agreement with Netflix. The proposed transaction would have Paramount acquire 100% of Warner Bros. Discovery for cash, with deal terms including termination and regulatory fees and a match/definitive agreement process ahead of closing.
-
Netflix to Acquire Warner Bros. (Studio and Streaming Businesses) in $82.7B Deal
December 5, 2025
Media & Entertainment
Netflix announced plans to acquire Warner Bros. in a transformative $82.7 billion enterprise value deal ($72 billion equity value). The transaction follows Warner Bros. Discovery’s separation of its Global Networks division (“Discovery Global”), which is expected to be completed in Q3 2026, and Netflix’s acquisition is expected to close 12–18 months after that separation and required regulatory approvals.
-
Nexstar Acquires 75% Stake in The CW from Warner Bros. Discovery and Paramount Global
October 3, 2022
Media & Entertainment
Nexstar Media Group has closed its previously announced acquisition of a 75% ownership interest in The CW Network, LLC from co-owners Warner Bros. Discovery and Paramount Global, which will each retain a 12.5% stake. Nexstar named Dennis Miller President of The CW and will pursue integration of the network with its broadcast and digital assets to expand distribution and advertising opportunities.
-
Waters Completes Combination with BD Biosciences & Diagnostic Solutions
February 9, 2026
Healthcare Services
Waters Corporation completed its previously announced combination with the Biosciences and Diagnostic Solutions businesses of Becton, Dickinson and Company (BD), creating a global life sciences and diagnostics leader focused on high-volume testing in regulated applications. The deal was executed via a Reverse Morris Trust structure, with BD spinning off the businesses into a separate entity that merged with a wholly owned Waters subsidiary.
-
ViacomCBS Networks International Acquires Chilevisión from WarnerMedia
September 30, 2021
Media & Entertainment
ViacomCBS Networks International (VCNI), a division of ViacomCBS Inc., has completed the acquisition of Chilevisión from WarnerMedia/AT&T. The deal includes Chilevisión's free-to-air television network, content library and production capabilities and is intended to expand VCNI's Spanish-language studio, streaming and linear presence in the region; financial terms were not disclosed.
-
Thomson Reuters Acquires World Business Media Limited
January 16, 2024
Media & Entertainment
Thomson Reuters has acquired World Business Media Limited, a London-based cross-platform, subscription provider of editorial coverage, events and video for the (re)insurance industry (including The Insurer and The Insurer TV). The business will be integrated into the Reuters News division reporting to Reuters Professional as Thomson Reuters looks to expand its reach and offerings into the insurance and reinsurance vertical.
Track M&A activity that matters to you
Get real-time deal alerts, build buyer lists with AI, and access our full acquisition database. Start your free trial today.