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.
“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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