A name for the new media company created as a result of the WarnerMedia-Discovery the merger was announced today, along with a logo and tagline. Telecommunications giant AT&T bought Time Warner, which has since been renamed WarnerMedia, three years ago for $ 85 billion. This acquisition gave AT&T ownership of everything previously under the Time Warner banner, including CNN, Turner Sports, Warner Bros. movie studio, TBS, truTV, Cartoon Network, TNT, and HBO.
Last month, it was announced that AT&T will merge WarnerMedia with Discovery to create a single media company expected to be valued at $ 150 billion. To better compete in the streaming wars with Netflix and Disney, the deal combines Discovery’s leading reality TV programming with premium entertainment, sports and news from WarnerMedia. Discovery’s assets include TLC, Food Network, HGTV, Animal Planet, Discovery Channel, Oprah Winfrey Network and the streaming service, Discovery +. Now the combined WarnerMedia and Discovery company is taking shape.
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Today, the name of the combined company was unveiled: Warner Bros. Discovery. David Zaslav, Discovery CEO and long-awaited CEO of the new company, announced the name to employees of the Warner Bros. studio lot in Burbank, according to Term. A new but old logo was also revealed along with a tagline, “The things dreams are made of. “Read Zaslav’s full statement below:
Warner Bros. Discovery will aspire to be the world’s most innovative, exciting, and fun place for storytelling; that’s what the company will be about. We love the name of the new company because it represents the combination of Warner Bros. ‘legendary legacy of one hundred years of creative and authentic storytelling and taking bold risks to bring the most amazing stories to life, with the global Discovery brand that has always been known. noted for integrity, innovation and inspiration.
The company’s motto is a quote taken directly from the 1941 Warner Bros. classic film, The Maltese Falcon. As well as being a tribute to the film studio’s rich history, the tagline is an indication of what the new company will be about. According to Warner Bros. Discovery, the new name “Honor, celebrate and honor the world’s most storied creative studio with Discovery’s high-quality global non-fiction narrative heritage.. “
Since the merger has yet to be approved by federal regulators, much is still unknown about the new company. The deal is seen by many as an attempt to increase their streaming presence, with HBO and Discovery only having about 80 million subscribers combined, compared to 208 million for Netflix and 100 million for Disney +. The structure of the combined company is currently unclear, but they are expected to offer an HBO Max-Discovery + package. It will be interesting to see how this massive merger will affect the subscriber count and how it will compare to Netflix in the future. Much more likely it will become apparent when the WarnerMedia-Discovery The deal officially closes sometime in mid-2022.
Next: WarnerMedia & Discovery deal explained: what it means to HBO Max and WB
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