A development of eight new industrial units which could be worth £20million has been given the green light by planning chiefs.
09.02.2022 - 17:49 / deadline.com
The merger of AT&T’s WarnerMedia and Discovery has cleared U.S. regulators, the companies announced Wed., in the last major hurdle for the $43-billion deal.
Basically, regulators let the waiting period expire without objection.
AT&T CEO John Stankey had indicated on the telco’s earnings call with analysts last week that approval could be coming sooner than expected — but this is even faster than anticipated and a giant step forward to finally closing the deal. European regulators have already given it the thumbs up. Discovery shareholders still need to approve the transaction, but that’s considered in the bag with major stakeholders including John Malone already committed.
As per expired As per an SEC filing: “As of February 9, 2022, Discovery, Inc. (“Discovery”) and AT&T Inc. (“AT&T”) have satisfied the closing condition in Section 9.1(d)(i)of the Agreement and Plan of Merger (the “Merger Agreement”), dated as of May 17, 2021, by and among Discovery, AT&T, DrakeSubsidiary, Inc. and Magallanes, Inc. (“Spinco”) relating to the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended(“HSR Act”). The HSR Act statutory waiting period has expired or otherwise been terminated, and any agreement not to consummate the transaction between the parties and the Federal Trade Commission or the Antitrust Division of the United States Department of Justice or any other applicable governmental entity, has also expired or otherwise been terminated.”
AT&T announced plans to spin off WarnerMedia last May, The combination, which will result in a media powerhouse led by Discovery CEO David Zaslav, sparked a flurry of consolidation and industry M&A speculation. The combined company will house two streaming services in Discovery+ and HBO
A development of eight new industrial units which could be worth £20million has been given the green light by planning chiefs.
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Brian Steinberg Senior TV EditorAT&T and Discovery have gained clearance for their much-anticipated deal to spin off WarnerMedia so it can merge with Discovery, a deal that has already been approved in Europe. The approval of Discovery shareholders is the last barrier to the deal moving forward.The companies disclosed the matter in two different filings Wednesday with the U.S.
The pending merger between AT&T’s WarnerMedia and Discovery, Inc. has received approval from U.S.
Brian Steinberg Senior TV EditorEver since Jeff Zucker seized the reins at CNN in early 2013, the cable-news network has been one of loudest voices in media circles. Now, even though Discovery didn’t push the executive out, there’s a sense the company will, after it buys CNN along with the rest of WarnerMedia, look to turn down the volume.In the Zucker era, CNN became more swashbuckling, more colorful, and indeed, more opinionated than it ever was under the aegis of its founder Ted Turner, or his successors at the former Time Warner. CNN went from delivering headlines to being in the headlines.
Brian Steinberg Senior TV EditorCNN staffers who spend a lot of time delivering the latest headlines may have something else to give their corporate overseers: a raised middle finger.Executives who run companies like WarnerMedia and Discovery spend much of their time these days trying to keep investors enthused about their prospects, even as the consumers who watch their movies and TV shows keep moving away to new streaming venues. Now they may have to take up some of their hours soothing a roiled staff at CNN, where many employees remain furious about the ouster of Jeff Zucker, the company’s president for the past nine years.
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