Discovery and WarnerMedia have officially merged into Warner Bros Discovery, instantly forming a content powerhouse, and a major new competitor in the streaming world.
This brings the following under the one roof: Discovery Channel, discovery+, Warner Bros. Entertainment, CNN, CNN+, DC, Eurosport, HBO, HBO Max, HGTV, Food Network, Investigation Discovery, TLC, TNT, TBS, truTV, Travel Channel, MotorTrend, Animal Planet, Science Channel, New Line Cinema, Cartoon Network, Adult Swim, and Turner Classic Movies.
That’s an impressive haul. David Zaslav, former Discovery CEO, and chief executive of the new company, claims: “With our collective assets and diversified business model, Warner Bros. Discovery offers the most differentiated and complete portfolio of content across film, television and streaming.”
It’s not without merit. This deal makes whatever streaming service they announce an instant, major competitor to Netflix and Disney+. There are no doubt existing content deals that will make migration of all its assets across to a single platform impossible, but it’s a much bigger deal than Amazon’s recent, drawn out MGM purchase.
Warner Bros Discovery opened at US$24.08 a share in its public debut as newly-formed company.
