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20 June 2021
14:50 hour

The Wall Street Journal: AT&T in talks to combine WarnerMedia assets with Discovery

Market Watch

16/05/2021 - 22:10

AT&T Inc. is in talks to combine a big portfolio of media assets, including CNN, with Discovery Inc., according to people familiar with the matter, a deal that would mark a major strategy shift for the telecom giant as the traditional TV business faces prolonged pressure.


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  1. AT&T ($T) in talks to combine media assets with Discovery ($DISCA) (16/05/2021 - Reddit Stocks)
    The Wall Street Journal reports that AT&T is in advanced talks to combine media assets, including CNN, with Discovery to consolidate their industry against incoming attacks from streaming. The article states that T shareholders will maintain a large stake in the new entity. It’s unclear (at least to me) whether these media assets will be a new company altogether or be a part of Discovery. Perhaps this suggests some of these media assets will push into cord-cutting and streaming, further suggesting the end of linear TV. https://www.wsj.com/articles/at-t-in-talks-to-combine-media-assets-including-cnn-with-discovery-11621183450?st=mld6y9qy9wg4co2&reflink=article_copyURL_share I have no position in these stocks but am interested in seeing how this develops.   submitted by   /u/Social_History [link]   [comments]
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  2. : AT&T to combine WarnerMedia business with Discovery in $43 billion deal (17/05/2021 - Market Watch)
    AT&T Inc. plans to combine its WarnerMedia business with Discovery Communication Inc.'s entertainment business to create a standalone media company with greater scale in the streaming ecosystem.
    [visit article]
  3. AT&T, Discovery in talks to combine content assets - Bloomberg News (16/05/2021 - Investing.com)

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  4. The Wall Street Journal: The Athletic ends merger talk with Axios and views New York Times as prospective partner (06/05/2021 - Market Watch)
    Sports-media outlet the Athletic is no longer in merger talks with news publisher Axios, people familiar with the situation reportedly have told the Wall Street Journal
    [visit article]
  5. AT&T to spin off and combine WarnerMedia with Discovery in deal that would create streaming giant (17/05/2021 - Reddit Stock Market)
      submitted by   /u/TheBuzzTrack [link]   [comments]
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  6. Good time to buy T and / or DISCA? (18/05/2021 - Reddit Stocks)
    https://www.cnbc.com/2021/05/17/att-to-combine-warnermedia-and-discovery-assets-to-create-a-new-standalone-company.html Just reading about this and looking at the price of both, this feels like a good idea to be holding a bit of both and a good time to do it. Looking to get some input and opinions and see what others might be doing here, apologies if this is already being discussed elsewhere.   submitted by   /u/turnimator84 [link]   [comments]
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  7. The Ratings Game: Why Discovery’s ‘groundbreaking’ WarnerMedia deal may not help its stock (24/05/2021 - Market Watch)
    Discovery Inc.'s "groundbreaking" deal for AT&T's WarnerMedia business may make the career highlight reel for members of Discovery's management team, but it also could complicate the company's once-simple story.
    [visit article]
  8. The Wall Street Journal: CNN ramps up streaming push as Discovery merger looms (01/06/2021 - Market Watch)
    CNN’s plans for a new streaming service are coming into focus as the cable network’s parent company prepares to merge with Discovery Inc.
    [visit article]
  9. The Wall Street Journal: CNN ramps up streaming push as Discovery merger looms (01/06/2021 - Market Watch)
    CNN’s plans for a new streaming service are coming into focus as the cable network’s parent company prepares to merge with Discovery Inc.
    [visit article]
  10. The New York Post: Ex-TikTok CEO seen as contender to lead WarnerMedia-Discovery streaming spinoff (19/05/2021 - Market Watch)
    As the ink begins to dry on the mega merger between AT&T’s WarnerMedia and Discovery, two big questions have surfaced: 1) Who will run their new powerhouse streaming service, and 2) How much will it cost to get rid of the current guy?
    [visit article]
  11. AT&T is said in talks to combine its media business with Discovery (16/05/2021 - Seeking Alpha)

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  12. The Wall Street Journal: Axel Springer in talks to buy Axios (21/05/2021 - Market Watch)
    German publishing conglomerate Axel Springer SE is in talks to purchase digital-news outlet Axios, according to people familiar with the matter, a deal that would add to the company’s U.S. holdings.
    [visit article]
  13. AT&T, Discovery In Talks To Merge (17/05/2021 - Reddit Stocks)
    https://finance.yahoo.com/news/t-discovery-talks-merge-media-170116187.html AT&T, Discovery In Talks To Merge Media Assets The proposed deal could create an entertainment giant to compete with Netflix Inc (NASDAQ: NFLX) and Walt Disney Co (NYSE: DIS). HBO and HBO Max now have 63.9 million global subscribers, compared with over 100 million for Walt Disney Co's Disney+ and 207.6 million for Netflix. That seems like a big fucking deal to me but does this mean mergers and acquisitions are on the table for the streaming giants like NFLX VIAC AMZN AAPL DIS?   submitted by   /u/eigenman [link]   [comments]
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  14. BP, Eni in talks to combine Angola oil and gas assets into new JV (19/05/2021 - Seeking Alpha)

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  15. The Wall Street Journal: Iran rejects offer to restart direct nuclear talks with U.S. (28/02/2021 - Market Watch)
    Iran rejected a European Union offer to arrange direct nuclear talks with the U.S., senior diplomats say, risking fresh tension between Tehran and Western capitals.
    [visit article]
  16. The Wall Street Journal: Bank of New York Mellon invests in crypto startup (18/03/2021 - Market Watch)
    Bank of New York Mellon Corp. is investing in a cryptocurrency startup, the latest move by a traditional Wall Street player to embrace digital assets.
    [visit article]
  17. The Wall Street Journal: Ex-Tiger Asia manager Bill Hwang behind big ViacomCBS, Discovery selloff (29/03/2021 - Market Watch)
    The liquidations appear to have left Archegos, which managed an estimated $10 billion of personal wealth for Hwang and his family, under extreme pressure following heavy losses.
    [visit article]
  18. Jason Kilar, the WarnerMedia CEO was not told about spin off (17/05/2021 - Reddit Stocks)
    Jason Kilar - the high-profile WarnerMedia chief whose name has been conspicuously absent from the day's AT&T-Discovery media merger news - has hired a legal team to negotiate an exit from his role, The New York Times reports. Kilar was kept in the dark about the multibillion-dollar deal until very recently, according to the report. I'm sorry but this was just too funny (although in a mean way) to ignore. So the CEO of company that ATT is spinning off was not being told about spin off. Naturally he must be pretty pissed to learn that the new CEO of his company (plus Discovery) is not going to be him. The new media company is set to be run by longtime Discovery CEO David Zaslav, who told reporters that he'd been meeting "secretly from my brownstone in Greenwich Village" with AT&T chief John Stankey over the past few months. Now this is truly hilarious. The new CEO been meeting in some secret house in the woods with ATT guys for months. So WarnerMedia CEO essentialy got... cucked. I love corporate drama.   submitted by   /u/Ironleg01 [link]   [comments]
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  19. The Wall Street Journal: Ride-hailing startup Grab is in talks to go public through SPAC merger (11/03/2021 - Market Watch)
    Grab Holdings Inc. is in talks to go public through a merger with a SPAC that could value the Southeast Asian ride-hailing startup at as much as $40 billion, making it by far the largest such deal on record.
    [visit article]
  20. Discord ends acquisition talks with Microsoft (21/04/2021 - Reddit Stocks)
    Discord has decided to remain independent, despite a round of high-profile acquisition talks. That's according to the Wall Street Journal, which previously reported Discord was on a call with numerous interested parties - and that Microsoft had advanced a $10bn offer to snap up the chat company. Discord's thoughts have now reportedly turned to a potential public offering, though Microsoft's eye-watering bid has still been left on the table to be "rekindled" at a later date. https://www.eurogamer.net/articles/2021-04-21-discord-ends-acquisition-talks-with-microsoft   submitted by   /u/gorays21 [link]   [comments]
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  21. The Wall Street Journal: Boko Haram leader responsible for Nigeria schoolgirl kidnappings dies (21/05/2021 - Market Watch)
    Abubakar Shekau, the fundamentalist warlord who turned Boko Haram from an obscure radical sect into a jihadist army whose war with the Nigerian state has left tens of thousands dead across four nations, has died, according to officials, mediators, phone calls intercepted by a West African spy agency and internal intelligence memos seen by The Wall Street Journal.
    [visit article]
  22. The Wall Street Journal: Vornado Realty Trust seeking to break partnership deals with Trump Organization (10/02/2021 - Market Watch)
    Partnership includes two of the most valuable assets of the former U.S. president’s company.
    [visit article]
  23. The Wall Street Journal: SEC says Tesla’s Elon Musk has twice violated court order with his tweets (01/06/2021 - Market Watch)
    Securities regulators told Tesla Inc. last year that Chief Executive Elon Musk’s use of Twitter had twice violated a court-ordered policy requiring his tweets to be preapproved by company lawyers, according to records obtained by The Wall Street Journal.
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  24. The Wall Street Journal: Verizon may sell its media assets, including Yahoo and AOL (28/04/2021 - Market Watch)
    Verizon Communications Inc. is exploring a sale of its media assets including Yahoo and AOL, according to people familiar with the matter, signaling a dramatic reversal of the communications company’s once-lofty ambitions in the sector.
    [visit article]
  25. The Wall Street Journal: Shutterfly may go public through SPAC merger (05/03/2021 - Market Watch)
    Shutterfly Inc. is in talks to go public through a merger with a blank-check company, according to people familiar with the matter, less than two years after Apollo Global Management Inc. took the online-photo-book maker private.
    [visit article]
  26. The Wall Street Journal: Shutterfly may go public through SPAC merger (05/03/2021 - Market Watch)
    Shutterfly Inc. is in talks to go public through a merger with a blank-check company, according to people familiar with the matter, less than two years after Apollo Global Management Inc. took the online-photo-book maker private.
    [visit article]
  27. Elliott supports AT&T's WarnerMedia/Discovery megadeal (17/05/2021 - Seeking Alpha)

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  28. AT&T confirms deal to merge WarnerMedia with Discovery (17/05/2021 - Seeking Alpha)

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  29. The Wall Street Journal: West Virginia governor is personally on the hook for $700 million in Greensill loans (01/06/2021 - Market Watch)
    West Virginia Gov. Jim Justice is personally on the hook for nearly $700 million in loans his coal companies took out from now-defunct Greensill Capital, according to people familiar with the loans and documents described to The Wall Street Journal.
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  30. The Wall Street Journal: Private equity group including Blackstone nears deal to buy Medline for over $30 billion (05/06/2021 - Market Watch)
    A group of private-equity firms including Blackstone Group Inc is nearing a deal to acquire Medline Industries Inc. that would value the medical-supply giant at more than $30 billion, in one of the largest leveraged buyouts since the financial crisis, the Wall Street Journal reported Saturday.
    [visit article]
  31. The Wall Street Journal: Top U.S., China officials to meet next week in Alaska on range of issues (10/03/2021 - Market Watch)
    Top U.S. and Chinese officials will hold two days of talks next week in Alaska, the first in-person meeting between senior representatives of the two countries since President Biden took office, a senior administration official said.
    [visit article]
  32. ViacomCBS gets double upgrade at BofA with M&A in air after WarnerMedia-Discovery deal (20/05/2021 - Seeking Alpha)

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  33. AT&T dividend cut steals focus in blockbuster WarnerMedia-Discovery deal (23/05/2021 - Seeking Alpha)

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  34. The Wall Street Journal: Startups Axios and the Athletic discuss merger, consider SPAC deal (27/03/2021 - Market Watch)
    Sports-media outlet the Athletic is in merger talks with news startup Axios, according to people familiar with the matter, part of a plan to build a larger online-publishing company that could include going public through a blank-check firm.
    [visit article]
  35. The Wall Street Journal: The cryptocurrency dogecoin began as a joke, and now it’s worth more than Ford (20/04/2021 - Market Watch)
    A cryptocurrency that was created as a joke exploded into plain view on Wall Street on Monday, with a surge in dogecoin sending its 2021 return above 8,100% — more than double the gains on the S&P 500 SPX, including dividends, since 1988.
    [visit article]
  36. The Wall Street Journal: The cryptocurrency dogecoin began as a joke, and now it’s worth more than Ford (20/04/2021 - Market Watch)
    A cryptocurrency that was created as a joke exploded into plain view on Wall Street on Monday, with a surge in dogecoin sending its 2021 return above 8,100% — more than double the gains on the S&P 500 SPX, including dividends, since 1988.
    [visit article]
  37. The Wall Street Journal: Chinese police arrest 1,100 people for money laundering with cryptocurrencies (11/06/2021 - Market Watch)
    Authorities in China escalated their campaign against cryptocurrencies, arresting more than 1,100 people suspected of using the digital assets to launder ill-gotten funds and ordering mines to shut down in one of its western provinces.
    [visit article]
  38. Discovery chief Zaslav to exit Lions Gate board as he takes on WarnerMedia challenge (19/05/2021 - Seeking Alpha)

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  39. The Wall Street Journal: Reddit valued at $6 billion after new funding round (09/02/2021 - Market Watch)
    Reddit Inc. doubled its valuation to $6 billion in a new round of funding that comes as the social-media company has added users through the COVID-19 pandemic and more recently has gained attention for its role in the recent Wall Street trading frenzy.
    [visit article]
  40. The Wall Street Journal: WeWork’s Adam Neumann close to settlement with SoftBank (23/02/2021 - Market Watch)
    WeWork co-founder and former Chief Executive Adam Neumann is in advanced talks to settle a high-profile legal fight with SoftBank Group Corp. by agreeing to a nearly $500 million cut in his payout from the shared-office-space company’s new owner, a move that would help clear the way for WeWork’s second attempt at a public listing.
    [visit article]
  41. AT&T (T) and Discovery (DISCA) join forces to create a formidable player in the streaming space (17/05/2021 - AlphaStreet)
    AT&T Inc. (NYSE: T) entered into an agreement to spin off its WarnerMedia business and combine it with Discovery Inc. (NASDAQ: DISCA) to create a new media company. The transaction is expected to help the companies create a strong player in the streaming space and it will also allow AT&T to focus on its core wireless business. Deal summary As per the terms, AT&T will receive $43 billion in a combination of cash, debt securities, and WarnerMedia’s retention of certain debt. AT&T’s shareholders will own 71% of the new company while Discovery shareholders will own 29%. The deal is expected to close in mid-2022. The deal will bring together two leading content creators, each with strong libraries of movies and television content. It will bring the likes of HBO, Warner Bros., DC Comics, CNN, Cartoon Network, TNT and Animal Planet among others, under one umbrella. Discovery’s President and CEO David Zaslav will lead the new company. The new company is projected to generate revenue of approx. $52 billion, adjusted EBITDA of approx. $14 billion and free cash flow conversion rate of approx. 60% by 2023. It is also expected to yield at least $3 billion in expected cost synergies annually for the new company. Streaming services The AT&T-Discovery alliance is anticipated to create a formidable player in the streaming space capable of competing with Netflix (NASDAQ: NFLX) and Walt Disney’s (NYSE: DIS) Disney+. The total number of HBO and HBO Max global subscribers were 64 million at the end of the first quarter of 2021. Last month, Discovery said the total number of its DTC subscribers had reached 15 million. The new company is targeting DTC revenues of over $15 billion in 2023. Netflix ended its most recent quarter with 208 million paid memberships, which was below its guidance of 210 million. Disney had 103.6 million paid subscribers at the end of its second quarter of 2021, which was also below what analysts had expected. This slower-than-expected growth can be attributed to the massive spike seen during the COVID-19 pandemic and the subsequent normalization. AT&T post transaction Following the close of the merger, AT&T expects its remaining assets to generate annual revenue growth at a low single digits CAGR from 2022 to 2024. Annual adjusted EBITDA and adjusted EPS are expected to grow at a mid-single digits CAGR during the same period. AT&T expects annual capital expenditures of around $24 billion post the closure of the transaction. The company also expects an annual dividend payout ratio of 40-43% on anticipated free cash flow of more than $20 billion. Shares of AT&T and Discovery were down over 2% and over 4%, respectively, in afternoon trade on Monday. Click here to read more on media stocksThe post AT&T (T) and Discovery (DISCA) join forces to create a formidable player in the streaming space first appeared on AlphaStreet.
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  42. The Wall Street Journal: Afternoons are the new rush hour in the suburbs (17/05/2021 - Market Watch)
    The pandemic continues to scramble driving patterns throughout the U.S.
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  43. The Wall Street Journal: You’re vaccinated. Can you finally take a vacation? (22/03/2021 - Market Watch)
    Many countries — including most of Western Europe— still aren’t open to U.S. tourists.
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  44. Field Trip Health was mentioned in a Wall Street Journal podcast. This is looking promising! (07/03/2021 - Reddit Stock Market)
      submitted by   /u/PsychedelicCyrin [link]   [comments]
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  45. The Wall Street Journal: As jurors deliberate, Minneapolis braces for Derek Chauvin verdict and potential unrest (20/04/2021 - Market Watch)
    “It’s like we’re getting ready for war or something."
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  46. The Wall Street Journal: Broadway shows to return Sept. 14 (05/05/2021 - Market Watch)
    Broadway can finally raise the curtain again.
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  47. The Wall Street Journal: Broadway shows to return Sept. 14 (05/05/2021 - Market Watch)
    Broadway can finally raise the curtain again.
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  48. The Wall Street Journal: Hit a golf ball in Yellowstone National Park? Seemed like a good idea at the time (07/06/2021 - Market Watch)
    Jake Adams set out to tee off in each of the 50 states. After his exploits in Wyoming, he is under investigation
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  49. The Wall Street Journal: Driscoll’s desperately needs to know how many strawberries America wants (05/05/2021 - Market Watch)
    Just over a year ago, Soren Bjorn, who helps run the world’s biggest berry company, made a bad call.
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