AT&T to spin off WarnerMedia in $43 billion Discovery media merger
The Hindu
AT&T shareholders will own 71% of the new Warner Bros.Discovery company and will receive a 0.24 shares of Warner Bros.Discovery for each AT&T share they own.
AT&T Inc said on Tuesday it will spin off WarnerMedia in a $43 billion transaction to merge its media properties with Discovery Inc.
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The U.S. telecoms group will distribute shares of the new Warner Bros. Discovery as a dividend of $1.11 per share, down from $2.08 per share.
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