AT&T and Discovery Merger Now Official
One of the biggest media mergers of late just took hold. WarnerMedia and Discovery have just combined into a new company with Discovery CEO David Zaslov at the helm. The news comes fresh off the heels of WarnerMedia trying to usher studio chairman Toby Emmerich out the door earlier this month, thus making their CEO Jason Kilar‘s position in the restructuring unclear.
Discovery comes to the table with media from outlets like CNN, TBS, TNT, HGTV, Food Network, Discovery+, and of course the Discovery Channel. Combined with WarnerMedia’s own massive content library including WB Studios, and all of the acquired IP on HBO Max like DC Comics and Cartoon Network, the deal looks to rival that of the Disney-Fox buyout from 2019. A $43 billion trust is in store for AT&T along with acquiring a majority of the stock holds. Estimations currently put the projected revenue for 2023 at $53 billion, with $3 billion in cost synergies.
“With a library of cherished IP, dynamite management teams and global expertise in every market in the world, we believe everyone wins…consumers with more diverse choices, talent and storytellers with more resources and compelling pathways to larger audiences, and shareholders with a globally scaled growth company committed to a strong balance sheet that is better positioned to compete with the world’s largest streamers.”
– Discovery CEO David Zaslav via: The Hollywood Reporter
Zaslav’s focus on said “diverse choices” in terms of “talent and storytellers” could be quite a telling comment. Jason Kilar has gone on the record multiple times for his praise of unique, visionary directors like Zack Snyder, matching Zaslav’s own empowering statement on creative freedom. With the merger shaking up positions for Kilar and others, fans should continue to check back with The Cultured Nerd for word on how the restructuring finalizes. Should Emmerich or other studio executives within WarnerMedia’s current hierarchy be removed from their positions, Zaslav and Kilar’s focus on backing talents such as Snyder and the recently disgruntled Christopher Nolan could become one of the company’s new directions.
“The new company will be able to increase investment and capabilities in original content and programming; create more opportunity for under-represented storytellers and independent creators…”
WarnerMedia-Discovery merger partners via: The Hollywood Reporter
What new content do you hope comes out of the new company first? Let us know in the comments!
