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Warner Bros. Discovery, Inc. (WBD) is an American multinational mass media and entertainment conglomerate headquartered in New York City.It was formed from WarnerMedia's spin-off by AT&T and merger with Discovery, Inc. on April 8, 2022.
Zaslav sold 2.564 million shares of WBD Series A common stock on Dec. 16 at an average weighted price of $11.73/share, totaling $30,075,720, according to an SEC filing Wednesday.
Suffice it to say that once the company spins off its Warner Media division and combines it with Discovery Inc (NASDAQ:DISCA), the dividend will be cut. That should occur sometime in 2022.
The merger, scheduled to be completed in mid-2022, would be structured as a Reverse Morris Trust; AT&T shareholders will hold a 71% interest in the new company's stock and appoint seven board members, and Discovery shareholders will hold 29% and appoint six board members. AT&T will receive $43 billion in cash and debt from the spin-off. [97] [98]
Warner Bros. Discovery, CNN’s corporate parent, announced Thursday it is establishing a new corporate structure that splits off its cable networks from its growing streaming business.
On March 4, 2019, AT&T would reorganize its broadcasting assets to effectively dissolve Turner Broadcasting System with its assets moving to the newly created WarnerMedia Entertainment with the unit consisting of HBO, TBS, TNT, TruTV, and an upcoming direct-to-consumer video service with Cartoon Network, Adult Swim, Boomerang, and Turner Classic Movies would be moved under Warner Bros ...
Despite spinning off Time Inc. in 2014, the company retained the Time Warner name until 2018, when the company was renamed WarnerMedia after it was acquired by AT&T. [7] On October 22, 2016, AT&T officially announced that they intended on acquiring Time Warner for $85.4 billion (or $108.7 billion when including assumed Time Warner debt ...
Warner Bros. Discovery stock rose nearly 12% on Thursday after the company reported strong streaming results in the third quarter, including its largest-ever quarterly subscriber growth since the ...