Is it a pretty sure bet that the proposed WarnerMedia-Discovery combo will become a global streaming power — and successfully manage the transition from legacy media businesses? Or is the merger a risky play by two big companies that could go south?
Wall Street analysts are divided on the prospects for the deal, which is expected to close in mid-2022. The proposed Warner Bros. Discovery merger is “the most compelling long-term opportunity across our media coverage,” according to Rbc Capital Markets analyst Kutgun Maral.
Under the blockbuster Discovery and AT&T agreement, announced last month, WarnerMedia assets including HBO Max, Turner and Warner Bros. will be combined with Discovery’s portfolio of domestic and international cable channels, including Discovery, TLC, Animal Planet, OWN, Food Network and HGTV. AT&T will get $43 billion in cash from the WarnerMedia spinoff, which the telco plans to use to pay down its sizable debt load.
Wall Street analysts are divided on the prospects for the deal, which is expected to close in mid-2022. The proposed Warner Bros. Discovery merger is “the most compelling long-term opportunity across our media coverage,” according to Rbc Capital Markets analyst Kutgun Maral.
Under the blockbuster Discovery and AT&T agreement, announced last month, WarnerMedia assets including HBO Max, Turner and Warner Bros. will be combined with Discovery’s portfolio of domestic and international cable channels, including Discovery, TLC, Animal Planet, OWN, Food Network and HGTV. AT&T will get $43 billion in cash from the WarnerMedia spinoff, which the telco plans to use to pay down its sizable debt load.
- 6/24/2021
- by Todd Spangler
- Variety Film + TV
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