The New Paper

May 17, 2021

ATT combines WarnerMedia with Discovery

AT&T announced plans to spin off its WarnerMedia division and combine it with Discovery. The combined entity will be majority-owned by AT&T and is projected to generate $52B of revenue and $14B of pre-tax profit by 2023. The transaction marks a reversal for AT&T, which acquired Time Warner in 2018 as part of a broader effort to build assets and content in the media segment.
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This story is from the May 17, 2021 edition of The New Paper – a clear, concise daily briefing that makes fact-first news easy to consume. Try it today.