Warner Media and Discovery completed their $43 billion merger

2022-07-08 0 By

On April 8th Discovery Media and Warner Media closed their merger.Discovery will buy a $43bn stake from AT&T AMP;T bought 29% stake in Warner Media.The new company, Warner Bros. Discovery, will be led by Current Discovery CEO David Zaslav, who will serve as CEO of the new company.Warner Bros. Discovery will include warner Bros. Films, DC Studios, streaming HBO Max, HBO, CNN and Discovery.These platforms have IP titles familiar to Chinese audiences, such as Game of Thrones, Harry Potter, DC hero movies and Discovery Channel documentaries.Warner Media reported this year that HBO Max and HBO had 73 million paid subscribers worldwide by the end of 2021, while Discovery’s Discovery channel and streaming had 22 million subscribers.With nearly 100 million subscribers, warner Bros. Discovery would be able to take on the current streaming giants, Netflix (220 million subscribers) and Disney+ (130 million subscribers), creating a giant player in the streaming market.Even before the merger, Warner, the traditional Hollywood studio, had been aggressively developing its streaming services.On December 3, 2020, Jason Kilar, then THE CEO of Warner Media, announced that due to the impact of the epidemic, Warner decided to cancel the theatrical window, and all new films released by the company would be simultaneously shown on HBO Max on the same day they were released in North American theaters.This measure does not officially end until December 31, 2021.During this period, wonder Woman 1984, Dune, the Matrix: Rebooted and other commercial blockbusters released by Warner have all suffered the fate of simultaneous theatrical release.The move has not only drawn criticism, but also infuriated director Christopher Nolan, a longtime collaborator and cinema stalwart.Ultimately, Nolan decided to end his 20-year relationship with Warner in 2021, and his new film, Oppenheimer, will be distributed by Universal.But Jason Kilar, who was actively pushing the streaming business, apparently couldn’t get AT& s parent company.T’s trust.May 2021, AT&In its first public announcement about the merger, Discovery’s David Zaslav was confirmed to lead the new company.Kilar, along with Andy Forssell, SVP and GENERAL manager of HBO Max, and Ann Sarnoff, CEO of Warner Media Studios, Film and Internet, left the company before the merger was completed.Casey Bloys, chief content officer of HBO Max, Toby Emmerich, chairman of Warner Bros. Pictures, and Channing Dungey, chairman of Warner Bros. Television, will remain, Variety reports.They will work with senior executives from Discovery to lead the company’s streaming and content businesses.According to CNN, AT&”The combination of Warner Media and Discovery will result in a stronger company that will accelerate the pace of innovation and change,” John Stankey, CEO of T, told warner Media employees on April 8.David Zaslav told employees on the same day that they could become top players in the streaming industry.Source: Jiemian News