As of Monday, April 11, 2022, the newly merged Warner Bros. Discovery began trading on NASDAQ and closed at $24.78 on its first day.
AT&T, the former parent company of WarnerMedia, and Discovery were finally able to close their deal for $43 billion on Friday, April 8.
Not only does this take Warner Bros. Discovery into the big leagues with Disney and Netflix, but it will also be the biggest merger of entertainment conglomerates since the pandemic began.
If you recall, in 2019, Disney acquired the Fox Media empire for a whopping $71.3 billion dollars. Talk about a payday! And it’s safe to say that this acquisition was instrumental in cementing Disney as a major competitor in streaming entertainment.
So why the heck are we talking about Warner Bros. Discovery?
Well, for starters, this new empire has the potential to steal some of the limelight from other big players in streaming entertainment, namely Amazon Prime Video, Netflix, Disney, and Apple.
Now, let’s take a minute to process how real this is about to get.
Prior to the merger, WarnerMedia housed the following networks: