WarnerMedia, Which Airs AEW on TNT, Announces Merger With Discovery
AT&T’s WarnerMedia has announced a merger of its entertainment assets (which includes TNT, the home of AEW) with Discovery Inc. The new company hasn’t been given a name or management structure yet, but it will be led by Discovery CEO David Zaslav. AT&T will receive $43 billion in cash, debt securities and WarnerMedia’s retention of debt, with shareholders getting stock that represents 71% of the new company. Discovery shareholders will get the other 29%. The deal will likely close sometim...
Source: 411mania.com