(CercleFinance.com) – AT&T and Discovery announced on Friday evening that they had concluded their transaction to combine the activities of WarnerMedia with Discovery, giving birth to Warner Bros. Discovery, which will begin trading on the Nasdaq this April 11, under the ticker symbol ‘WBD’.
The new company combines the premium entertainment, sports and news assets of WarnerMedia with Discovery’s leading international sports and entertainment businesses.
Under the deal, AT&T received $40.4 billion in cash (but retained some debt by WarnerMedia) and its shareholders 1.7 billion WBD shares, or 71% of WBD’s equity, while those of Discovery hold the rest of the new set.
Copyright © 2022 CercleFinance.com. All rights reserved.
Did you like this article ? Share it with your friends with the buttons below.
