Company Announcements

Statement from John Malone on the Combination of Discovery – AT&T’s WarnerMedia

ENGLEWOOD, Colo.--(BUSINESS WIRE)--May 18, 2021-- John Malone offered the following statement today on the definitive agreement to combine Discovery, Inc. (NASDAQ: DISCA, DISCB, DISCK) and its leading nonfiction and international entertainment and sports businesses with AT&T’s (NYSE: T) WarnerMedia premium entertainment, sports and news assets to create a premier, standalone global entertainment company.

John Malone said: “After over 30 years of being involved in developing Discovery as a global information and entertainment company, the opportunity to combine with WarnerMedia to create the ultimate consumer offering in its space is compelling. The industrial logic of this investment grade, synergistic combination, under the leadership of David Zaslav, is appealing. I am delighted to fully support this transaction, without asking for or receiving a premium for my high vote shares. I believe we are creating real value for shareholders and a legacy investment for my grandkids.”

Courtnee Chun
courtnee@libertymedia.com

Source: John Malone