David Zaslav And John Stankey Outline Plans For Merging Discovery And WarnerMedia, Addressing Future Of Jason Kilar, CNN, Streaming

deadline.com:

In an hour-long press briefing, Discovery CEO David Zaslav and AT&T CEO John Stankey outlined plans for the companies’ $43 billion merger.“We’re going to be one company,” Zaslav said. “One company, one culture, one mission.” As to the timing of the deal, Stankey said he felt the entertainment portfolio had achieved “escape velocity” in recent months.

Given the broader objectives of AT&T, which has been investing in 5G and other technology for its broadband and wireless networks, he added, “It became clear to me that we were going to need a different capital structure.”The transaction, which burst into view as a strong likelihood just a day ago, took shape earlier this year during covert meetings between Zaslav and Stankey in New York, the