The highly anticipated $43 billion merger of WarnerMedia and Discovery is finally official. The newly formed streaming media company will be led by CEO David Zaslav.
Warner Bros Discovery Inc. will become one the largest mass media companies that likely will change the entertainment industry and the streaming business. The new behemoth is ready to play against Disney+ and Netflix.
Before the merger was confirmed Zaslav said in a memo to employees that they are building the world’s most dynamic company. “(The merger) can propel the creation of high-quality content, create more opportunity for under-represented storytellers and independent creators,” he noted.
WarnerMedia ads to the combo HBO Max, HBO, CNN, CNN+, Warner Bros., DC Films, New Line Cinema, TBS, TNT, TruTV, Cartoon Network/Adult Swim and Turner Sports among others, including top selling franchises like Harry Potter, Game of Throne and Batman, among others.
Discovery’s menu includes Discovery+, Discovery Channel, Investigation Discovery, Travel Channel, Turbo/Velocity, HGTV, Food Network, TLC, Animal Planet, Science Channel and OWN (Oprah Winfrey Network).
While AT&T CEO John Stankey bid farewell to the company in a candid memo to staffers, many of Warner’s top executives have also exited the company, including WarnerMedia CEO Jason Kilar.