Warner Bros completes its merger with Discovery, a giant new organization coming soon.
WarnerMedia and Discovery have just completed their merger. Warner Bros Discovery, the new name for this new organization, will eventually merge HBO Max and Discovery+ into a single streaming service. This combination of real entertainment and programming could help Warner Bros. Discovery to better compete with the likes of Netflix and Disney+. Until then, the company will offer a package that combines the two services. WarnerMedia recently launched another streaming service, CNN+.
Warner Bros. completes merger with Discovery
Shortly before the completion of the merger, WarnerMedia CEO Jason Kilar announced his departure. Jason Kilar, who took over the company in May 2020, was behind the controversial plan to make all Warner Bros. available. 2021 on HBO Max and in theaters on the same day, the decision has a lot to do with the Covid-19 pandemic. However, this decision seemed very interesting, since both HBO Max and HBO had 73.8 million subscribers at the end of 2021.
And if the departure of Jason Kilar and several other WarnerMedia executives didn’t make the situation any clearer, Warner Bros. Discovery will be entitled to an entirely new direction. Discovery CEO David Zaslav currently leads the company.
New Giant Entity Coming Soon
This merger is the latest in a long list of mergers in the media industry over the years. Last month, Amazon completed its $8.45 billion takeover of MGM. Disney spent $71.3 million to buy 21st Century Fox a few years ago and Microsoft spent $68.7 billion to buy Activision Blizzard, with the takeover expected to close in June 2023.
Last year, AT&T announced that it was spinning off from WarnerMedia for a hefty $43 billion, a deal that would tie the company to Discovery. This operation has ended and AT&T is no longer handling multimedia content.