Discovery, Inc. announced on Wednesday that the European Commission had issued an unconditional approval in antitrust proceedings for the Company’s proposed acquisition of WarnerMedia Business, a subsidiary of AT&T Inc.
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“The approval of the European Commission is a key milestone in completing our proposed transaction with AT&T,” said David Zaslav, President and CEO of Discovery and future CEO of the combined company.
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“Today, we are taking an important step towards creating Warner Bros. Discovery, a leading entertainment company that will be one of the world’s leading investors in premium content and be able to offer consumers the most complete programming experience, in our opinion, provided by a single entity.”
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Discovery currently expects the WarnerMedia deal to close in mid-2022, subject to approval from Discovery’s shareholders and compliance with additional standard closing requirements, including other regulatory approvals. No approval from AT&T shareholders is required.
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