July 1, 2022

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Warner Bros. Discovery is officially the new streaming giant |  TV |  entertainment

Warner Bros. Discovery is officially the new streaming giant | TV | entertainment

New media giant flow American Discover Warner Bros. Born on Friday after completing Millionaire Merger of the entertainment groups Warner Media and Discovery.

Discover Warner Bros.that compete with leaders in this sector such as Netflix and Disneycollect one of the Largest content libraries on the market and a hundred historical brands covering TV, movies and news such as HBO, CNN, DC Comics and Eurosport.

The merger is estimated to be worth 43 billion dollars It has undergone a regulatory process since the process was announced in May last year, which It means the separation of WarnerMedia from the AT&T Communications Group.

AT&T bought WarnerMedia for about $85 billion in 2018, subduing the conglomerate formerly known as time warning For restructuring and leadership changes, something that is being interpreted as a failed strategy.

The new company headed by David Zaslav, who was responsible for The 15-year discovery confirms the trend towards focus in the entertainment sectorwhich are also coveted by the big tech companies.

Zaslav highlighted in a statement The importance of inclusion for contributors, distributors, advertisers, creative partners, and consumers From around the world, in addition to expecting the production of “impact stories”.

Executives of merged companies Estimated for the year 2023 with a sales volume of 52,000 million dollarsgross profit of 14,000 million and cost savings of 3,000 million annually, which may involve reductions.

it is expected that Warner Bros. Discovery begins trading next Monday on Wall Street Under “WBD” on the Nasdaq Composite Index, the merged companies announced.