Warner Bros. Pictures-Discovery Merge Steps Closer

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Discovery-Warner Bros merger has moved even closer as a new company has formed.

The obsession of merging continues in Hollywood as the new company Warner Bros. Pictures Discovery will be created through the $43 billion mergers. Thirteen members of WBD has merged, consisting of existing directors of Discovery and AT&T and soon the third part. Samuel Di Piazza will be chairman of Warner Bros. Discovery.

Discovery CEO David Zaslav will at the WBD Board be a Discovery designee. Discovery will get six members and AT&T gets seven.

“I look forward to working alongside and benefiting from the collective experience of this group of distinguished leaders to create and grow the world’s most dynamic media entertainment company and a top-tier competitor in streaming,” Zaslav said. “This board brings diverse personal perspectives, strong track records and invaluable industry knowledge. Its stewardship will help establish the company as the premier creator of impactful storytelling across genres and platforms.”

This merger was approved last week by Discovery shareholders.  The closure is expected to occur in April.

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Source: Deadline.com

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