AT&T’s Short, Bumpy Ride in Hollywood: Timeline of WarnerMedia’s Road to Discovery Spinoff Deal
variety.comJennifer Maas TV Business WriterWarnerMedia has been owned by telco giant AT&T for less than four years and it will soon have a new parent company — likely by the end of next month.Discovery’s shareholder vote on the acquisition of WarnerMedia is set for today during a special meeting of stockholders set for 10 a.m.
ET. The deal is expected to get an easy thumbs-up given the approval already bestowed by Discovery’s oldest and most influential holders, investor John Malone and Advance/Newhouse Co.
Both agreed to convert long-held preferred shares into common shares order to smooth the path for the spinoff combination.As Discovery conducts a mostly ceremonial poll of shareholders, AT&T is signaling the start of a new chapter.
The telco giant will conduct a virtual investor conference at the exact same time as the vote to unveil its post-spinoff strategy.
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