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AT has announced this week that they will be unloading WarnerMedia to Discovery- perhaps one of the strangest announcements we’ve heard in a while.
BLAKE & WANG P.A one of the best entertainment law firms los angeles digs a little deeper into the details of this $43B merger.One company, one culture, one missionDiscovery CEO David Zaslev seems buoyed by the deal, determined that the uniting of the 2 industry greats will successfully create a renewed corporate culture.
Meanwhile, it seems that the surprise move from AT is indicative of their overall move towards 5G and another tech, broadband, and wireless options, citing the need for a ‘different capital structure’.
What’s particularly surprising is the truncated timescale we’ve seen.
Market rumors of the merger only popped early last week, although talks have been underway since earlier this year.
Joining forces with entertainment brandsUnder the unusual deal, AT shareholders keep 71% of the recombined new entity, with Discovery holding the remaining 29%.
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