Discovery has just finished getting Warner Usually of AT&T. The completion of the process leads to the birth of a new company Discovery of Warner Bros.the company will be listed on the market starting Monday with WBD as the acronym.
Warner Media owns HBO, HBO Max, CNN, Warner Bros., DC Films, New Line Cinema, TBS, TNT, TruTV, Cartoon Network / Adult Swim, Turner Sports and Rooster Teeth, as well as of course many brand co-owned with Paramount, Ang CW.
Discovery is the owner of Discovery Plus, Discovery Channel, HGTV, Food Network, TLC, Investigation Discovery, Travel Channel, Turbo / Velocity, Animal Planet, Science Channel and OWN (Oprah Winfrey Network).
At the close of the acquisition its value will be approximately $ 43 billion, which will be included in the balance of the new WBD as additional debt. AT&T will use this new capital to pay off the debts it has accumulated and by the end of 2021 will reach 156 billion dollars.
Clearly this change has led to a new company structure, for example David Zaslav, CEO of Discovery since 2007, will take over as CEO of the new entity. While veteran producer Kathleen Finch will oversee all networks. Toby Emmerich, Casey Bloys and Channing Dungey, heads of Warner Bros Pictures, HBO and Warner Bros TV, respectively, will remain in place.
Bruce Campbell, head of distribution for Discovery, will have a similar role at the new company.
Warner executives like Jason Kilar, head of the streaming division Andy Forssell and Ann Sarnoff, head of studio and network, will not find a place in the new corporate structure.
Source: Various
Source 2: Deadline
Source: Red Capes
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