The startup of the entertainment giant will be in mid-2022, after approval by regulators
The slogan of the new company is “The stuff dreams are made of”, taken from “The Maltese Falcon”The entertainment company resulting from theus cell phone database merger of the WarnerMedia (AT&T) and Discovery groups , announced in May, will be called Warner Bros. Discovery, once it receives the approval of the US regulators, in charge of giving the green light to the operation. This was announced by David Zaslav, President and CEO of Discovery and future CEO of Warner Bros. Discovery, during an event organized with Jason Kilar , CEO of WarnerMedia, to explain the process to employees.
By way of context, after several rumors about a possible deal, the telecommunications firm AT&T , which bought Time Warner three years ago and turned it into its WarnerMedia division , confirmed a couple of weeks ago the merger of the assets with Discovery to give rise to to a new entertainment operator. In this way, brands such as HBO , HBO Max , CNN , or TNT , included in WarnerMedia , will join Animal Planet , TLC or Discovery under a common platform.
“Warner Bros. Discovery aspires to be the most innovative company in the world”
“Warner Bros. Discovery aspires to be the most innovative, exciting and fun entity in the world and will focus on storytelling, that is the fundamental axis of the company,” said Zaslav at the event where he unveiled the new name Warner Bros. Discovery . “We love the name of the new company, because it represents the combination of Warner Bros’ legendary centennial legacy, grounded in its ability and creativity, together with the amazing and authentic stories that are associated with the global Discovery brand, which has always stood out. for integrity, innovation and inspiration ” , added Zaslav.
In addition to the name of the company resulting from the merger between AT&T and Discovery, the Warner Bros. Discovery logo and the company’s motto have also been released : “The stuff that dreams are made of.” made dreams “), taken from the classic film” The Maltese Falcon “, produced by Warner Bros. in 1941 and which is a tribute to the company’s past, on which it will work to imagine its future.
Warner Bros. Discovery, a paradigm shift in the audiovisual sector
The company resulting from the merger is expected to be launched from mid-2022 after closing a deal valued at $ 43 billion . The creation of Warner Bros. Discovery will mean a revolution in the audiovisual industry, because its objective will be to compete against services such as Netflix or Disney + . As confirmed by the executives of the two companies that participate in the process, each one will invest about 20,000 million dollars annually in generating content for the 17,000 that Netflix currently spends.
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But this business movement will also mean a change in the television paradigm in important markets. Thus, for example, in the United States , under the umbrella of the new Warner Bros. Discovery, HBO Max and Discovery + will be grouped together, two services that already have some 70 million subscribers . In Europe, the map of the players B2B Phone List will also be modified. Citing a close case, Discovery recently acquired the broadcasting rights for the Olympic Games in Spain, which forced RTVE to negotiate an agreement to broadcast the most important competitions openly. Meanwhile, in the United Kingdom and Italy, the merger could threaten the Sky group, today the main competitor of the public entities BBC and RAI, thanks, in part to its agreements with Warner.