NEW YORK—Discovery, Inc. has announced that its shareholders have approved various matters relating to the acquisition of WarnerMedia from AT&T to create Warner Bros. Discovery, Inc.
The approvals set the stage for the $43 billion deal to close in Q2, 2022.
Based on estimated preliminary voting results, Discovery said that during the Special Meeting of Discovery Stockholders, Discovery stockholders voted to approve the charter amendment proposals, share issuance proposal and the advisory (non-binding) compensation proposal.
The approvals mark the completion of one of the few remaining closing conditions for the merger. These preliminary voting results will be updated through the filing of a Current Report on Form 8-K to reflect the final certification of results from the Inspector of Election, the company said.
The Boards of Directors of both AT&T and Discovery have approved the transaction.
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George Winslow is the senior content producer for TV Tech. He has written about the television, media and technology industries for nearly 30 years for such publications as Broadcasting & Cable, Multichannel News and TV Tech. Over the years, he has edited a number of magazines, including Multichannel News International and World Screen, and moderated panels at such major industry events as NAB and MIP TV. He has published two books and dozens of encyclopedia articles on such subjects as the media, New York City history and economics.