Discovery And WarnerMedia Finalize Merger
By Movieguide® Contributor
Discovery announced Friday that their stockholders have approved their merger with WarnerMedia to create Warner Bros. Discovery.
The new company will combine WarnerMedia’s entertainment, sports, and news content with Discovery’s nonfiction, international entertainment, and sports businesses.
According to Deadline, the Warner Bros. Discovery merger won’t be finalized until April, but this announcement means the two companies can now start discussions about management structure and the organization of the businesses.
They will also figure out how this merger will affect the two companies’ streaming services, like CNN+, which will launch March 29.
The $43 million merger will create a huge new player in the entertainment world, with 200,000 hours of programming and 100+ channels, including 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, and ID.
Movieguide® previously reported on the merger:
As Discovery and WarnerMedia continue their merger process, executives assured investors that they will not overspend on content.
“Our goal is to compete with the leading streaming services, not to win the spending war,” Discovery CEO David Zaslav told Deadline.
The concerns about overspending come after lower-than-projected streaming numbers spooked Wall Street investors. Netflix is forecasting low subscriber growth in the coming months and Paramount Global (formerly ViacomCBS) are fielding worries about cash flow.
Zaslav is confident about Discovery and WarnerMedia’s financial future, noting that Discovery has a strong cash flow. He does anticipate more spending, but says it will be done cautiously: “You’re not going to hear us say we are going to spend $5 billion more” than the projected budget.
Now more than ever we’re bombarded by darkness in media, movies, and TV. Movieguide® has fought back for almost 40 years, working within Hollywood to propel uplifting and positive content. We’re proud to say we’ve collaborated with some of the top industry players to influence and redeem entertainment for Jesus. Still, the most influential person in Hollywood is you. The viewer.
What you listen to, watch, and read has power. Movieguide® wants to give you the resources to empower the good and the beautiful. But we can’t do it alone. We need your support.
You can make a difference with as little as $7. It takes only a moment. If you can, consider supporting our ministry with a monthly gift. Thank you.
Movieguide® is a 501c3 and all donations are tax deductible.
Now more than ever we’re bombarded by darkness in media, movies, and TV. Movieguide® has fought back for almost 40 years, working within Hollywood to propel uplifting and positive content. We’re proud to say we’ve collaborated with some of the top industry players to influence and redeem entertainment for Jesus. Still, the most influential person in Hollywood is you. The viewer.
What you listen to, watch, and read has power. Movieguide® wants to give you the resources to empower the good and the beautiful. But we can’t do it alone. We need your support.
You can make a difference with as little as $7. It takes only a moment. If you can, consider supporting our ministry with a monthly gift. Thank you.
Movieguide® is a 501c3 and all donations are tax deductible.
- Content: +2Share:
- Content: +3