Discovery Inc. has officially announced this Tuesday, June 1st, that the new company that emerged from the merger between its assets and those of WarnerMedia will be called ‘Warner Bros Discovery’. As confirmed days ago, the leader of the new company will be David Zaslav, current President & CEO at Discovery.
“Warner Bros. Discovery will aspire to be the most innovative, exciting and fun place to tell stories in the world – that is what the company will be about. We love the new company’s name because it represents the combination of Warner Bros.’ fabled hundred year legacy of creative, authentic storytelling and taking bold risks to bring the most amazing stories to life, with Discovery’s global brand that has always stood brightly for integrity, innovation and inspiration. There are so many wonderful, creative and journalistic cultures that will make up the Warner Bros. Discovery family. We believe it will be the best and most exciting place in the world to tell big, important and impactful stories across any genre – and across any platform: film, television and streaming’, reported Zaskav regarding the new standalone company.
In mid-May, AT&T and Discovery announced an agreement between WarnerMedia and Discovery, for the two to combine their assets and create a new company. According to the official terms of the document, although AT&T and Discovery’s Board of Directors have already approved the transaction, it is expected that it will be completed by mid-2022. Likewise, AT&T shareholders will have 71% of Warner Bros Discovery, while Discovery shareholders will have the remaining 29%.
In terms of content, the new company’s catalog will gather around 200 thousand hours of content from HBO, Warner Bros., Discovery, DC, CNN, WB Games, Turner Sports, Cartoon Network, HGTV, Food Network, TNT, TBS, Turner Classic Movies, Wizarding World, Adult Swim, Eurosport, Magnolia, TLC, Animal Planet, ID, and others. Recently, both companies had fixed their OTT strategies with the launches of HBO Max, which will launch in Latin America on June 29th, and Discovery +, with launch plans in the region.