AT&T strikes blockbuster $43 billion deal with Discovery to form media giant
AT&T strikes blockbuster $43 billion deal with Discovery to form media giant
AT&T shareholders will receive stock representing 71% of the new company and Discovery stockholders will own 29% of the new company.
Golden Boy, the Spirit of Communication statue, is pictured in the new AT&T Discovery District in downtown Dallas, Tuesday, April 20, 2021. The statue, originally called Genius of Telegraphy, stood atop AT&T s headquarters in New York City decades ago.(Tom Fox / Staff Photographer)
6:36 AM on May 17, 2021 CDT
Dallas-based AT&T Inc. agreed to spin off its media operations in a deal with Discovery Inc. that will create a new entertainment company, merging assets ranging from CNN and HBO to HGTV and the Food Network.
AT&T to create a streaming giant with Discovery by merging media assets business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Discovery Chief David Zaslav 2020 Pay Drops to $37.7 Million Variety 4/30/2021
Discovery Chief Executive Officer David Zaslav’s total compensation fell more than 17% in 2020, topping out at $37.7 million.
That was down from the $45.8 million that Zaslav pulled in the previous year and significantly down from the massive $129.4 million in compensation that the Discovery chief earned in 2018, which included the value of stock options that amounted to more than $100 million as part of a new employment contract.
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This time, the bulk of Zaslav’s compensation came from stock awards ($12.5 million) and non-equity incentive plan compensation ($21.8 million). His salary remained locked at $3 million. Zaslav also received $16,800 for a car allowance, $501 for home office expenses, $16,930 for personal security services, and $355,355 for private plane use. He was granted no options. Discovery is required to publish the ratio to Zaslav’s pay to those of its median