– The Commission concluded that the proposed takeover does not raise competition concerns, given that after the transaction, the merged entity will still have to face sufficient competition from other entities, the EC said.
– WarnerMedia is a global media and entertainment company dedicated to the development, production, licensing and distribution of feature films, TV shows, games and other content. Discovery is a global media company that licenses and delivers audiovisual content to viewers through multiple distribution platforms, including (…) pay-TV and direct subscription services for consumers, the release said.
New concern it will be called Warner Bros. i is expected to be present in over 220 countries and 50 language areas. His video library will have over 200,000. hours.
The new company will be able to compete globally in the fast-growing service sector, directly to consumers by providing interesting content to subscribers across its entire offering, including HBO Max and the recently launched discovery +, it was announced in May in a merger announcement.
The closing of the transaction is yet to be approved by Discovery’s general meeting of shareholders and, as stated in the company’s announcement, “additional standard terms, including approvals from other regulators”. David Zaslav, currently President and CEO of Discovery, is to become the head of the new concern.