AT&T to Spin Off Interest in WarnerMedia to its Shareholders at Closing of Previously Announced Transaction with Discovery, Inc.

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Feb 01, 2022

%3Cspan+style%3D%22font-weight%3Anormal%3B%22%3EAT%26amp%3BT%2C+Inc.%3C%2Fspan%3E (NYSE%3A+T) today announced that its board of directors has determined to spin off AT&T’s interest in WarnerMedia in connection with the previously announced transaction with Discovery, Inc (NASDAQ: DISCA, DISCB, DISCK). The transaction, which will spin off 100% of AT&T’s interest in WarnerMedia to AT&T’s existing shareholders in a pro rata distribution, followed by the merger of WarnerMedia with Discovery, is expected to close in the second quarter of 2022.