Warner Bros completes its merger with Discovery, now called WBD
Updated: Aug 28, 2022
By Ishika Garg
The merger of AT&T Inc's Warner Media unit and Discovery Inc was completed on Friday, the companies announced. Warner Bros Discovery Inc, the combined company, will begin trading on the Nasdaq on Monday under the ticker symbol "WBD."
In May 2021, the companies announced their intention to merge and form a separate media company, with AT&T aiming to focus more on its wireless ambitions and Discovery looking to expand its content library. Clients, agencies, investors, and sell-side analysts are expected to attend the presentation, which will highlight the company's differentiated portfolio.
The executive team of Discovery to lead the new Warner Bros Discovery was announced on Thursday, relying heavily on a trusted group of lieutenants, many of whom have worked with its chief executive, David Zaslov, since his days at NBC.