-

WarnerMedia merging with Discovery to create new global entertainment company

AT&T, the parent company of WarnerMedia, which owns AEW’s broadcast partner TNT, announced today an agreement to combine WarnerMedia’s premium entertainment, sports and news assets with Discovery’s leading nonfiction and international entertainment and sports businesses to create a premier, standalone global entertainment company.

This is bringing some déjà vu vibes of Time Warner being sold to AOL back in 2000, a move which was the beginning of the end for WCW. AOL bought Time Warner for $182 billion in stock and debt at the time and AT&T paid $85 billion three years ago to take over WarnerMedia. The new deal will see AT&T receive $43 billion from Discovery in different ways, a combo of cash and debt securities.

Assuming the deal goes through, it will be finalized next year pending approval from regulators and Discovery’s own shareholders.

While AEW is in a different position than WCW was at the time, mergers often see a lot of cuts and changes which might affect certain working relationships. AEW is locked in a multi-year deal with TNT so for now no changes are anticipated.


Discover more from Wrestling-Online.com

Subscribe to get the latest posts sent to your email.

Colin Vassallo
Colin Vassallohttps://www.wrestling-online.com
Colin Vassallo has been editor of Wrestling-Online since 1996. He is born and raised in Malta, follows professional wrestling and MMA, loves to travel, and is a big Apple fan!

Stories you might also likeRELATED
Recommended to you

LATEST NEWS

Undertaker’s 1 deadMAN SHOW returning for three dates in December

Undertaker's 1 deadMAN SHOW is returning for three dates in December across three of Texas' biggest cities: Dallas, Houston,...

Chris Bey suffers serious injury at TNA TV tapings

Former TNA Tag Team champion Chris Bey suffered a serious injury on Sunday at the TNA Impact television tapings...

WWE turns down TNA’s request to induct AJ Styles into its Hall of Fame

Sean Ross Sapp of Fightful Wrestling is reporting through his Select service that TNA Wrestling approached WWE to induct...

Discover more from Wrestling-Online.com

Subscribe now to keep reading and get access to the full archive.

Continue reading