WarnerMedia and Discovery, the parent companies of HBO Max and Discovery Plus, are as of today Warner Bros. He shared with the public that they had completed their merger under the name Discovery. This new company will host everything from HBO to CNN, from Cartoon Network to DC Comics under its umbrella.
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WarnerMedia and Discovery are now Warner Bros. It will be called Discovery!
Investors in AT&T, the current owner of WarnerMedia, are pushing the company’s content powerhouse to Discovery and Warner Bros. Today he approved a multi-billion dollar deal that will allow him to start a new business under the Discovery name.
These new business and streaming services will be able to invest more in original content, improve programming options across global linear pay TV and broadcast channels, and deliver more innovative video experiences and consumer options, the companies said last year as the companies took the first steps in the merger.
Discovery president and CEO David Zaslav is set to lead the new company. Jason Kilar and some other AT&T executives at WarnerMedia announced that they moved to a new leadership team under Zaslav shortly before the deal was finalized.
The deal will put Discovery in a position to surpass perhaps even Netflix in the streaming and studio space in the coming days, while allowing AT&T to pay off its massive debt it has been postponing for years.
Under this new umbrella company, HBO Max and Discovery Plus are expected to merge their content directly into a single service. In fact, as AT&T said last year, the deal will combine WarnerMedia’s popular content with Discovery’s pantry, bringing it to life in more than 200 countries and regions.
Of course, it should not be forgotten that this merger has become a major threat to Netflix. Because even HBO Max alone, while trying to expand its market share, can now be a real competitor by adding Discovery and other publications under the roof of WarnerMedia in the future to its library. It may even take over a large piece of the pie one day. But it will also need to be mindful of players like Disney Plus, which holds the MCU universe and series like The Lord of the Rings.
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