AT&T’s WarnerMedia And Discovery To Merge, Create New Company Led By David Zaslav

Under the terms of the agreement, which is structured as an all-stock transaction, AT&T would receive $43 billion in a combination of cash, debt securities, and WarnerMedia’s retention of certain debt, and AT&T’s shareholders would receive stock representing 71% of the new company; Discovery shareholders would own 29% of the new company. – Jill Goldsmith, Deadline Hollywood »