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Share this article Share this article NEW YORK, May 18, 2021 /PRNewswire/ WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Discovery Inc. ( Discovery or the Company ) (NASDAQ: DISCA, DISCB, DISCK) in connection with the Company s agreement with AT&T Inc. ( AT&T ) (NYSE: T), to combine WarnerMedia s entertainment, sports, and news assets with Discovery s nonfiction and international entertainment and sports businesses to create a standalone global entertainment company. Under the terms of the agreement, which is structured as an all-stock, Reverse Morris Trust transaction, AT&T would receive $43 billion (subject to adjustment) in a combination of cash, debt securities, and WarnerMedia s retention of certain debt. AT&T s shareholders will receive stock representing 71% of the new company with Discovery shareholders owning 29% of the new company. ....
Getty / Scott Olson AT&T and Discovery announced plans to spinoff AT&T s WarnerMedia business on Monday. The deal would see Discovery absorb big-name brands such as HBO, CNN, and film studio Warner Bros. We ve got the names of the top dealmakers who put the transaction together. Some of Wall Street s biggest stars were tapped to help hammer out the deal between AT&T s WarnerMedia division and Discovery, which was announced on Monday. A flashy battalion of big-name bankers from some of the Street s top technology, media, and telecom advisory shops came together to work on the deal, which will create an entity valued at roughly $130 billion including debt. Powerhouse attorneys from white-shoe law firms including Sullivan & Cromwell and Debevoise & Plimpton also helped along the way. ....
SHAREHOLDER ALERT: WeissLaw LLP Investigates Discovery, Inc. prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
May 17, 2021 AT&T Inc. is preparing to spin off its media business and merge it with with Discovery Inc. in a tax-friendly deal, according to people with knowledge of the matter, a surprise reversal for a company that spent $85 billion to acquire the assets less than three years ago. A deal could be announced as soon as this week, said the people, who asked not to be identified because the information was private. The transaction will be structured as a so-called Reverse Morris Trust, or a merger with another company that’s structured to be tax-free, one of the people said. ....
17/05/2021 | 14:25 Tre anni dopo aver rilevato Time Warner per oltre 85 miliardi di dollari, il colosso Usa delle telecomunicazioni At&t ha firmato un accordo che prevede la fusione tra WarnerMedia e Discovery con l’obiettivo di creare una società capace di competere al meglio nel mercato dello streaming. Nella nuova joint venture che sarà creata per l’occasione entreranno a farne parte Warner Bros, la piattaforma di streaming Hbo, Cartonn Network, Tcm e Cnn e dall’altro canto entreranno i canali tematici Discovery, Hgtv e Food Network. Gli azionisti di At&t deterranno il 71% del nuovo insieme mentre gli azionisti di Discovery Communication controlleranno il restante 29%. Con questa operazione At&t riceverà 43 miliardi di dollari in una combinazione di contanti, titoli di debito e il mantenimento di determinati debiti da parte di WarnerMedia. ....