DISCK - Here's What Will Happen to AT&T and Discovery Communications Shares Ahead of the Warner Bros. Discovery Merger
Recently, Discovery Communications (NASDAQ: DISC.A) (NASDAQ: DISC.B) (NASDAQ: DISCK) shareholders officially approved the merger with WarnerMedia, AT&T 's (NYSE: T) soon-to-be spun-off company. The resulting company will be Warner Bros. Discovery and begin trading on the Nasdaq Stock Market under the ticker "WBD" in early April. Before the new company forms, here's what AT&T and Discovery Communications shareholders need to know.
AT&T's WarnerMedia will represent 71% of the newly formed Warner Bros. Discovery, and its shareholders will receive approximately 0.24 shares of the new company for each share of AT&T stock owned. Before that happens, you will have the opportunity to decide whether you want to own just AT&T or Warner Bros. Discovery, or both companies.
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Here's What Will Happen to AT&T and Discovery Communications Shares Ahead of the Warner Bros. Discovery Merger