The entertainment company that will be formed from the combination of WarnerMedia and Discovery will be known as Warner Bros. Discovery.
David Zaslav, President and CEO of Discovery and the future CEO of the proposed company unveiled the new name to WarnerMedia employees from the Warner Bros. studio lot in Burbank Monday. “Warner Bros. Discovery will aspire to be the most innovative, exciting and fun place to tell stories in the world – that is what the company will be about. We love the new company’s name because it represents the combination of Warner Bros.’ fabled hundred-year legacy of creative, authentic storytelling and taking bold risks to bring the most amazing stories to life, with Discovery’s global brand that has always stood brightly for integrity, innovation and inspiration.”
An initial logo includes an iconic line from the Maltese Falcon, “the stuff that dreams are made of,” a nod to both the legacy of Warner Bros. and a vision for the future.
AT&T will receive $43 billion from its new partner; AT&T’s shareholders will receive stock representing 71% of the new company with Discovery shareholders holding the remaining 2%.
The new company will have a library of nearly 200,000 hours of programming and bring together over 100 brands including HBO, Warner Bros., Discovery, DC Comics, CNN, Cartoon Network, HGTV, Food Network, the Turner Networks, TNT, TBS, Eurosport, Magnolia, TLC, Animal Planet and ID.