Disclaimer: We may earn a commission if you make any purchase by clicking our links. Please see our detailed guide here.

Follow us on:

Google News

WarnerMedia, Discovery Gets US Nod to Create a New Streaming Giant

Rahul Bhagat
Rahul Bhagat
Rahul Bhagat is a Digital Marketer and strategist with more than 7 years of experience in Marketing, SEO, Analytics, Marketing Automation and more.

Join the Opinion Leaders Network

Join the Techgenyz Opinion Leaders Network today and become part of a vibrant community of change-makers. Together, we can create a brighter future by shaping opinions, driving conversations, and transforming ideas into reality.

The $43 billion Discovery and WarnerMedia deal to create the next big content streaming giant has cleared an antitrust review from the US government agencies, according to a filing with the Securities and Exchange Commission (SEC).

AT&T in May last year announced to spin off its media business WarnerMedia and merge it with TV company Discovery, creating a major new player in the media world to compete with streaming giants like Netflix and Disney.

The all-stock deal will see AT&T receive $43 billion in a combination of cash, debt securities, and debt retention on the part of WarnerMedia.

AT&T bought WarnerMedia in 2016 for $85.4 billion.

According to a report in The Verge, once finalized, the merged company will be one of the biggest media conglomerates in the US.

Last year, the companies announced the new media entity would be called Warner Bros. Discovery.

The new company will compete globally in the fast-growing direct-to-consumer business — bringing compelling content to DTC subscribers across its portfolio, including HBO Max and the recently launched discovery+.

The transaction will combine WarnerMedia’s storied content library of popular and valuable IP with Discovery’s global footprint, a trove of local-language content, and deep regional expertise across more than 200 countries and territories.

According to AT&T, the new company will be able to invest in more original content for its streaming services, enhance the programming options across its global linear pay-TV and broadcast channels, and offer more innovative video experiences and consumer choices.


Partner With Us

Digital advertising offers a way for your business to reach out and make much-needed connections with your audience in a meaningful way. Advertising on Techgenyz will help you build brand awareness, increase website traffic, generate qualified leads, and grow your business.

Power Your Business

Solutions you need to super charge your business and drive growth

More from this topic