Discovery Shareholders approve merger with WarnerMedia
AEW will now officially be under WarnerMedia and Discovery following a merger between the two entertainment companies.
Discovery announced on Friday that its stockholders have approved its merger with AT&T’s WarnerMedia to create Warner Bros. Discovery, “a premier, global entertainment company” — marking the completion of one of the few remaining closing conditions for the merger.
The new merger will bring together WarnerMedia’s entertainment, sports and news assets with Discovery’s leading nonfiction and international entertainment and sports businesses. Discovery CEO Davis Zaslav will lead the combined company. The two entities will take until April to wrap up the complex deal.
The reportedly $43-billion combination, will create a massive player in the media and entertainment landscape. The boards of directors of both AT&T and Discovery have approved the transaction, as have regulators.
The merger was announced in May, the new company name, logo and initial wordmark (“The stuff that dreams are made of”) in June.