WarnerMedia completes $43 billion merger with Discovery

WarnerMedia and Discovery have completed the merger. Warner Bros. Discovery, as the new entity, will eventually combine HBO Max and Discovery + into a single streaming service. The combination of entertainment and reality shows could help Warner Bros. Discovery better competes with Netflix and Disney+. In the meantime, the company will likely offer a two-service package. WarnerMedia recently launched another streaming service in CNN +.

Shortly before the merger closed, WarnerMedia CEO Jason Kilar announced his departure. Kilar, who started running the company in May 2020, is the man behind controversial plan releases all of Warner Bros.’s 2021 films. on HBO Max and in cinemas on the same day amid the COVID-19 pandemic. The move seems to have paid off as HBO Max and HBO had 73.8 million subscribers combined by the end of 2021.

As if the departure of Kilar and several other WarnerMedia executives didn’t make things clear enough, Warner Bros. Discovery will have a new leadership structure. Discovery CEO David Zaslav is running the company.

The merger is the latest in a number of major media consolidation moves in recent years. Amazon seal purchase of $8.45 billion of MGM just last month. Disney spent 71.3 billion dollars to take over most of the 21st Century Fox companies a few years ago, while Microsoft agreed The deal is 68.7 billion dollars to buy Activision Blizzard, slated to close in June 2023.

AT&T announced last year it turned against WarnerMedia in a $43 billion deal that would combine it with Discovery. Now that the T is over and my T is dotted, the deal is done and AT&T is more or less out of the content business.

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