WarnerMedia And Discovery Become ‘Warner Bros Discovery’ After Merger

Synopsis: The Warner Bros Discovery that is created after the merger of the duo, will start trading on the Nasdaq on Monday, 11 April under the ticker symbol 'WBD'. With the merger, Discovery is aiming to strengthen its content library while AT&T's focus is on its wireless ambitions.

AT&T Inc’s WarnerMedia Unit and Discovery on Friday announced Warner Bros Discovery as the completion of their merger. The merger was introduced in May last year when both the companies announced to merge in order to become a standalone media business. The announcement was made through a statement.

The Warner Bros Discovery that is created after the merger of the duo, will start trading on the Nasdaq on Monday, 11 April under the ticker symbol ‘WBD’. With the merger, Discovery is aiming to strengthen its content library while AT&T’s focus is on its wireless ambitions.

AT&T Chief Executive Officer John Stankey said,

With the close of this transaction, we expect to invest at record levels in our growth areas of 5G and fiber, where we have strong momentum.

The merger’s portfolio is going to include Discovery Channel, discovery+, Warner Bros. Entertainment, CNN, CNN+, DC, Eurosport, HBO, HBO Max, HGTV, Food Network, Investigation Discovery, TLC, TNT, TBS, truTV, Travel Channel, MotorTrend, Animal Planet, Science Channel, New Line Cinema, Cartoon Network, Adult Swim, Turner Classic Movies and others.

Towards the completion of the merger, Discovery had announced a leadership team to lead Warner Bros Discovery. It announced, Channing Dungey as the Chairman of Warner Bros Television Group, and Toby Emmerich as the Chairman. Both of them are continuing their former positions.

It also announced the appointment of Adria Alpert Romm as Chief People and Culture Officer, Gunnar Wiedenfels as Chief Financial Officer, and JB Perrette as CEO and President, Warner Bros. Discovery Global Streaming and Interactive Entertainment, etc.

Talking about the appointments, David Zaslav, the future CEO of Warner Bros Discovery, said, 

These accomplished leaders will create a place where creatives, talent, and all of our people in every corner of the globe can do their best work and inspire audiences everywhere with the magic, joy, and wonder of world-class storytelling, news, and sports.

Discovery in a statement revealed that it will later name Warner Bros Discovery’s Chief Diversity, Equity, and Inclusion Officer. It further stated that it is currently in search of the role of Chair and CEO for Warner Bros. Discovery Sports.

Most of the named leaders have reportedly been working with the Discovery’s chief executive since he was working at NBC. While on the other hand, nine high-profile executives of WarnerMedia announced their exits ahead of the merger’s completion. The exited names include Chief Executive Jason Kilar and Studios and Network Chief Ann Sarnoff.