Warner Bros Discovery is officially the new streaming giant | Television | Entertainment

The new media giant streaming American Warner Bros Discovery was born this Friday after completing the multimillionaire merger of the entertainment groups WarnerMedia and Discovery.

Warner Bros Discoverywhich competes with leaders in the sector such as Netflix y Disneygather one of the largest content libraries on the market and a hundred historic brands spanning television, film and news such as HBO, CNN, DC Comics and Eurosport.

The merger valued at about $43 billion has gone through a regulatory process since the operation was announced in May of last year, which has meant the separation of WarnerMedia from the AT&T telecommunications group.

AT&T bought WarnerMedia for about $85 billion in 2018, subduing the conglomerate formerly known as Time Warner to restructuring and leadership changes, something interpreted as a failed strategy.

The new company headed by David Zaslav, who has been in charge of Discovery for 15 years confirms the trend towards concentration in the entertainment sectoralso coveted by the big technology companies.

In a statement, Zaslav highlighted the importance of the merger for shareholders, distributors, advertisers, creative partners and consumers from all over the world, in addition to predicting that “impact stories” will be produced.

The executives of the combined companies estimated for 2023 a turnover of 52,000 million dollarsgross profits of 14,000 million and cost savings of 3,000 million per year, which may imply cuts.

It is expected that Warner Bros Discovery begins trading next Monday on Wall Street under the “WBD” label on the Nasdaq Composite Index, the merged companies announced.

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