Competition from Disney was a major reason for the impending merger of WarnerMedia and Discovery Inc.
“With Disney accelerating at that point because of COVID, I just looked at that and thought who could take that on? Who could be a global offering that formidable?” Discovery Chief Executive Officer David Zaslav told Variety. “When you put us together — Batman, Superman, Wonder Woman, Game of Thrones, Sex and the City, HBO and Discovery being everywhere in the world with local content — we’re better together.”
“I’ve been doing deals my whole life,” Zaslav continued. “The standard always is, are you better together? In this case were are not just better together. We are the best media company in the world, more global than anyone else with all the news, sports, entertainment and huge tentpoles that we bring together.”
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In a sudden move that shocked the entertainment world, AT&T announced this week that they will be selling off WarnerMedia assets like Warner Bros. and HBO (among many other famous brands) to Discovery Inc. The deal will close on an unspecified date in 2022 and the new company formed from this merger will be led by Zaslav. This development comes just under three years after AT&T completed its $85 billion purchase of Time Warner, which it later renamed WarnerMedia.
Source: Variety
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