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Business & Lifestyle

AT&T spins off WarnerMedia to join Discovery, create major media company

DALLAS, Tex. (UPI) -- AT&T announced Monday that it's merging WarnerMedia -- which includes HBO and CNN -- with Discovery to form a standalone streaming and entertainment company. The deal would pay $43 billion to AT&T and let it keep 71% ownership of the new company. Discovery shareholders would own 29%. Boards at AT&T and Discovery have already signed off on the agreement, the companies said. David Zaslav, Discovery's president and CEO, will lead the new company. "This agreement unites two […]

May 17, 2021 3

Business & Lifestyle

Discovery to buy Scripps in deal valued at $14.6 billion

SILVER SPRING, Md./CINCINNATI, Ohio (Heartland Newsfeed) -- Discovery Communications Inc. said Monday they have reached an agreement to buy Scripps Networks Interactive Inc. in a cash-and-stock deal valued at $14.6 billion, including $2.7 billion of debt. Discovery will pay $90 a share, or 34% over Scripps' unaffected share price as of July 18. The deal is expected to close by early 2018. The combined company will produce about 8,000 hours of original programming annually and be home to about 300,00 hours […]

July 31, 2017 5

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