Discovery, WarnerMedia Officially Complete $43 Billion Merger

The companies cross the finish line 11 months after announcing the deal

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Less than a year after Discovery and WarnerMedia announced their plans to merge, Warner Bros. Discovery has officially arrived.

The companies crossed the finish line Friday afternoon and completed their $43 billion merger, combining the media assets of WarnerMedia and Discovery to create a new, streaming-centric media company that will once again reshape the media landscape.

The deal gave AT&T—which had owned WarnerMedia, and has now exited the entertainment industry—$43 billion cash and debt securities, with WarnerMedia spun off and combined with Discovery.



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