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The media conglomerate and streaming American Warner Bros Discovery was born this Friday (04.08.2022) following completing the multimillion-dollar merger of the entertainment groups warnermedia Y Discovery.
Warner Bros Discovery -which competes with leaders in the sector such as Netflix Y Disney+– brings together one of the largest content libraries on the market and a hundred historic brands spanning television, film and news such as HBO, CNN, DC Comics Y Eurosport.
The merger valued at around 43,000 million dollars has passed a regulatory process since the operation was announced in May 2021, which has led to the separation of warnermedia of the telecommunications group AT&T.
AT&T I buy warnermedia for regarding 85,000 million dollars in 2018 and subdued the conglomerate formerly known as Time Warner to restructuring and leadership changes, something interpreted as a failed strategy.
The new company directed by David Zaslav, who has been in charge of Discovery for 15 years, confirms the trend towards concentration in the entertainment sector, also coveted by the big technology companies. In a statement, Zaslav highlighted the importance of the merger for shareholders, distributors, advertisers, creative partners and consumers around the world, as well as predicting “impact stories” will be produced.
Those who are executives of the combined companies estimated for 2023 a turnover of 52,000 million dollars, gross profits of 14,000 million and cost savings of 3,000 million annually, which may imply cuts. It is expected that Warner Bros Discovery begins trading on April 11 on Wall Street under the label “WBD” in the compound index Nasdaqas announced by the merged companies.
ama (efe, the New York times, variety, bloomberg)
