WARNER BROS. DISCOVERY: DISCOVERY SHAREHOLDERS APPROVE MERGER WITH WARNERMEDIA

At a special meeting today, Discovery shareholders voted to approve the $ 43 billion acquisition with WarnerMedia of AT&T for the creation of Warner Bros. Discovery .

Advertisements

The merger has already received approval from the United States Department of Justice and the boards of directors of AT&T and Discovery .

The transaction is expected to close in the second quarter, according to Variety sources between 11 and 28 April .

Discovery CEO David Zaslav will serve as president and CEO of Warner Bros. Discovery .

The first major hiring for WBD was Chris Licht as the new head of CNN, following the departure of Jeff Zucker following the WarnerMedia investigation .

Press release

Discovery Inc. said in a statement:

“The transaction will bring together WarnerMedia’s premium entertainment, sports and news assets with Discovery’s leading international entertainment and sports and nonfiction businesses.

At the special meeting of Discovery shareholders held today, based on the preliminary estimated results of the vote, Discovery shareholders voted to approve the proposed changes to the articles of association, the proposed share issue and the proposed advisory (non-binding) netting. .

The approvals mark the completion of one of the few remaining closing conditions for the merger. These preliminary voting results will be updated through the filing of a current report on the 8-K form to reflect the final certification of the results by the election inspector. “