Discovery Closes 43 Billion Merger With WarnerMedia to Form Warner Bros. Discovery

AT&T’s WarnerMedia and Discovery Inc. have closed their high-profile 43 million merger into new entity Warner Bros. Discovery, the companies announced on Friday.“Today’s announcement marks an exciting milestone not just for Warner Bros. Discovery but for our shareholders, our distributors, our advertisers, our creative partners and, most importantly, consumers globally,” said Warner Bros. Discovery CEO David Zaslav in a statement.“With our collective assets and diversified business model, Warner Bros. Discovery offers the most differentiated and complete portfolio of content across film, television and streaming,” he continued. “We are confident that we can bring more choice to consumers around the globe while fostering creativity and creating value for shareholders. I can’t wait for both teams to come together to make Warner Bros. Discovery the best place for impactful storytelling.”Discovery stakeholders had approved the deal in mid-March.The merger will place AT&T’s Warner Bros., CNN,...