Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
Editorials & Other Articles
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
AT&T to spin off WarnerMedia in $43-billion Discovery merger, cuts dividend
Reuters
AT&T to spin off WarnerMedia in $43-billion Discovery merger, cuts dividend
Kenneth Li
Tue, February 1, 2022, 6:37 AM
(Reuters) -AT&T Inc said on Tuesday it will spin off WarnerMedia in a $43 billion transaction to merge its media properties with Discovery Inc and also cut its dividend by nearly half.
AT&T shareholders will own 71% of the new Warner Bros. Discovery company and will receive a 0.24 shares of Warner Bros. Discovery for each AT&T share they own. AT&T will have 7.2 billion diluted shares outstanding after the transaction closes.
The U.S. telecoms group will pay a dividend of $1.11 per share, down from $2.08 per share. This is at the lower end of an $8 billion to $9 billion range AT&T had forecast earlier. ... In premarket trading, AT&T shares were down 4%.
The deal to unwind AT&T's $85 billion purchase of Time Warner was announced early last year, but some financial details were not disclosed until Tuesday.
{snip}
AT&T to spin off WarnerMedia in $43-billion Discovery merger, cuts dividend
Kenneth Li
Tue, February 1, 2022, 6:37 AM
(Reuters) -AT&T Inc said on Tuesday it will spin off WarnerMedia in a $43 billion transaction to merge its media properties with Discovery Inc and also cut its dividend by nearly half.
AT&T shareholders will own 71% of the new Warner Bros. Discovery company and will receive a 0.24 shares of Warner Bros. Discovery for each AT&T share they own. AT&T will have 7.2 billion diluted shares outstanding after the transaction closes.
The U.S. telecoms group will pay a dividend of $1.11 per share, down from $2.08 per share. This is at the lower end of an $8 billion to $9 billion range AT&T had forecast earlier. ... In premarket trading, AT&T shares were down 4%.
The deal to unwind AT&T's $85 billion purchase of Time Warner was announced early last year, but some financial details were not disclosed until Tuesday.
{snip}
2 replies
= new reply since forum marked as read
= new reply since forum marked as read
