1/25/2024 0 Comments Discovery inc video game![]() ![]() Zaslav explained that the company aimed to be the "most innovative, exciting and fun place to tell stories in the world", and would combine Warner Bros.' "fabled hundred-year legacy of creative, authentic storytelling and taking bold risks to bring the most amazing stories to life" with Discovery's "integrity, innovation and inspiration." Discovery, and an interim wordmark was unveiled with the tagline "The stuff that dreams are made of", a line from the 1941 Warner Bros. On June 1, 2021, it was announced that the merged company would be known as Warner Bros. The company will aim to expand their streaming services, which includes WarnerMedia's HBO Max, to reach 400 million global subscribers. ![]() Zaslav stated that the two companies would spend a combined US$20 billion annually on content (outpacing Disney, Netflix and ). The new company will be led by Discovery's current CEO, David Zaslav, while WarnerMedia's CEO Jason Kilar's position in the new company is uncertain. AT&T will receive US$43 billion in cash and debt from the spin-off. ![]() The merger, scheduled to be completed in mid-2022, will be structured as a Reverse Morris Trust with AT&T shareholders holding a 71% interest in the new company's stock and appointing seven board members, and Discovery shareholders holding a 29% interest and appointing six board members. to form a new company, which is subject to regulatory approval. On May 17, 2021, AT&T announced that it had agreed to dispose its equity stake in wholly-owned media and entertainment subsidiary WarnerMedia (the former Time Warner, which AT&T acquired in 2018 for just over US$85 billion in an attempt to become a vertically integrated media conglomerate) and merge it with Discovery Inc. for it to merge with WarnerMedia, the parent company of Warner Bros., to form a publicly-traded company that would be divided between its shareholders. On May 16, 2021, Bloomberg News reported that AT&T was in talks with Discovery, Inc.
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