October 2, 2022

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Discovery, Inc.  Announces the European Commission's unconditional approval of the proposed acquisition of WarnerMedia Business

Discovery, Inc. Announces the European Commission’s unconditional approval of the proposed acquisition of WarnerMedia Business

Discovery, Inc. It was announced Wednesday that the European Commission has issued unconditional approval in an antitrust investigation into the company’s proposed acquisition of WarnerMedia Business, a subsidiary of AT&T Inc.

“The approval of the European Commission is a milestone in the completion of the proposed transaction with AT&T,” said David Zaslav, President and CEO of Discovery and future CEO of the combined company.

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“Today, we are taking an important step toward creating Warner Bros. Discovery, a leading entertainment company that will be one of the world’s leading investors in premium content and will be able to provide consumers with a complete programming experience, in our view, delivered by a single entity.”

Discovery currently expects to close the WarnerMedia transaction in mid-2022, subject to approval by Discovery shareholders and meeting additional standard closing requirements, including other regulatory approvals. No approval from AT&T shareholders is required.

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