A PYMNTS Company

US Watchdogs OKs Discovery-WarnerMedia Mega Deal

By  |  February 9, 2022

Media company Discovery’s plan to acquire venerable film and TV studio WarnerMedia has passed the US Department of Justice’s antitrust review, clearing another hurdle toward closing, according to a regulatory filing on Wednesday.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The $43 million deal, which was announced last May, received unconditional antitrust clearance from the European Commission in December. WarnerMedia parent AT&T has also received a letter from the Internal Revenue Service approving the merger’s tax-free status, another key requirement for the closing.

    Related: AT&T Will Spin Off WarnerMedia In $43B Discovery Merger

    The deal now awaits approval by Discovery’s shareholders. It already has the support of investors John Malone and the Newhouse family.

    The European Commission, the executive body of the European Union, approved the deal in December.

    Having avoided any formal antitrust challenge, the Discovery and WarnerMedia teams can now begin to prepare for the combination. Among key decisions Hollywood and Wall Street will focus on are executive appointments, potential cost-cutting moves and the unveiling of Warner Bros. Discovery’s streaming strategy.

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.