David Zaslav Exits Lionsgate Board Of Directors In Wake Of WarnerMedia Deal; Reminisces About Old Days At Discovery Town Hall

deadline.com:

AT&T and Discovery rocked Hollywood with the combination that will see WarnerMedia and Discovery rolled together into a new standalone public entertainment company led by Zaslav — as AT&T exits the sector and Discovery doubles down.Under the terms of the agreement, structured as a spinoff and expected to close mid-next year, AT&T would receive $43 billion in a combination of cash, debt securities, plus would benefit by WarnerMedia retaining some debt.

AT&T’s shareholders will end up with stock representing 71% of the new company, Discovery shareholders with 29% of the new company.The move has spurring talk of a domino effect of mega-deals as the streaming battle — with HBO Max and Discovery+ soon to be uner one room — now becomes really