Discovery and WarnerMedia complete merger in 40 billion euro deal

Discovery and WarnerMedia complete merger in 40 billion euro deal

Discovery and AT&T have completed the process of merging Discovery with Warner Media, AT&T’s content production arm. The completion of the process was announced on Friday and the merger of two rival entertainment groups led to the birth of Warner Bros. Discovery, a new giant in streamingIn a business worth 43 billion dollars (40 billion euros).

In a statement, Warner Bros. Discovery says it has a “more differentiated and complete” portfolio of audiovisual and entertainment content, including brands such as HBO, CNN, DC Comics and Eurosport. new giant of streaming Will compete directly with platforms like Netflix or Disney.

The companies that have now merged have projected revenues of US$52 billion (approximately €48 billion) for 2023, profits of US$14 billion (about €13 billion) and costs on the order of three billion dollars (about €2.8 billion). Estimating savings. Euro) per year.

Warner Bros. Discovery will be led by David Zaslav. For a manager who spent 15 years at the helm of Discovery, this business reaffirms the trend of concentration in the sector and is relevant to shareholders, distributors, advertisers, creative partners and consumers.

“This is an exciting milestone not only for Warner Bros. Discovery, but also for our shareholders, distributors, advertisers, creative partners and most importantly, consumers,” Zaslav said in the statement. As for the new company CEO, “Warner Bros. Discovery offers the most distinct and complete portfolio of content in movies, television and. streaming,

“We believe we can provide consumers around the world with more choices while encouraging creativity and creating value for shareholders. I can’t wait for the two teams to come together to make Warner Bros. the best place to be.” can. impressive stories”, he argues.

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About the author: Will Smith

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