The entertainment world received a bit of a surprise yesterday when AT&T and Discovery announced that the former’s WarnerMedia, acquired from Time Warner in 2016, will be merging with Discovery to form a new global entertainment company. Current Discovery CEO David Zaslav will lead the new company, which currently is without a name. What exactly does this mean? Here are some initial points of interest.
- The total deal is worth $43 billion. BILLION with a B!
- WarnerMedia’s stable of brands (Warner Bros., HBO, CNN, Cartoon Network, Cinemax, TBS, TNT, Adult Swim, and DC Comics) will join Discovery’s brands (Discovery, Food Network, HGTV, OWN, TLC, and Animal Planet) under the same umbrella. (via /Film)
- “WarnerMedia’s storied content library of popular and valuable IP with Discovery’s global footprint.” (via Deadline)
- No word yet on what this means specifically for any of the IP.
- Potential focus is rumored to be on rekindling relationships with talent and storytellers, some of whom have been displeased with recent decisions of WarnerMedia (Zack Snyder, Christopher Nolan, etc.). (via The Culture Nerd)
- Both WarnerMedia and Discovery have streaming services (HBO Max and Discovery+ respectively). No word yet on whether they will continue to operate separately or will be combined (or bundled?).
More to come.
Photo from Den of Geek