Warner Bros Discovery were born

AT&T Inc. (NYSE:T) announced the closing of the transaction to combine WarnerMedia’s business with Discovery.

The new company is named Warner Bros. Discovery, Inc. and will debut on Nasdaq on Monday, April 11 under the new ticker “WBD.”

Warner Bros. Discovery will have the most comprehensive portfolio of entertainment content and brands in the world. The new company merges WarnerMedia’s premium entertainment, sports, and news offerings with Discovery’s leading international entertainment and sports properties, including Discovery Channel, discovery+, Warner Bros.

What Warner Bros Discovery Includes

It owns the following channels: Entertainment, CNN, CNN+, DC, Eurosport, HBO, HBO Max, HGTV, Food Network, Investigation Discovery, TLC, TNT, TBS, truTV, Travel Channel, MotorTrend, Animal Planet, Science Channel, New Line Cinema, Cartoon Network, Adult Swim, Turner Classic Movies, and many more.

Additionally, AT&T shareholders received 0.241917 shares of WBD for each AT&T common share. As a result, AT&T shareholders received 1.7 billion shares of WBD, representing 71% of WBD’s outstanding shares. Current Discovery shareholders own the remainder of the new company.

Besides their new WBD common shares, AT&T shareholders continue to hold the same number of AT&T common shares they owned immediately before the closing.