Editing WarnerMedia (section)

=== Spin-off from AT&T and merger with Discovery, Inc. (2021–2022) ===
{{Main|Warner Bros. Discovery}}
On May 16, 2021, it was reported that AT&T was in talks with [[Discovery, Inc.]]—which primarily operated television channels and platforms devoted to [[Factual television|non-fiction]] and unscripted content—for it to merge with WarnerMedia, forming a publicly traded company that would be divided between its shareholders.<ref>{{Cite web|last=Sherman|first=Alex|date=May 16, 2021|title=AT&T in advanced talks to merge WarnerMedia with Discovery, deal expected as soon as tomorrow|url=https://www.cnbc.com/2021/05/16/att-in-advanced-talks-to-merge-warnermedia-with-discovery.html|access-date=May 16, 2021|website=CNBC|language=en|archive-date=May 31, 2022|archive-url=https://web.archive.org/web/20220531031836/https://www.cnbc.com/2021/05/16/att-in-advanced-talks-to-merge-warnermedia-with-discovery.html|url-status=live}}</ref> The proposed spin-off and merger was officially announced the next day, which is to be structured as a [[Reverse Morris Trust]]. AT&T shareholders would receive a 71% stake in the merged company, which is expected to be led by Discovery's current CEO [[David Zaslav]].<ref name=":1">{{cite web|last=Meredith|first=Steve|last2=Kovach|first2=Sam|date=May 17, 2021|title=AT&T announces $43 billion deal to merge WarnerMedia with Discovery|url=https://www.cnbc.com/2021/05/17/att-to-combine-warnermedia-and-discovery-assets-to-create-a-new-standalone-company.html|access-date=May 17, 2021|work=CNBC|archive-date=January 20, 2022|archive-url=https://web.archive.org/web/20220120133629/https://www.cnbc.com/2021/05/17/att-to-combine-warnermedia-and-discovery-assets-to-create-a-new-standalone-company.html|url-status=live}}</ref><ref name=":2">{{cite web|last=Hayes|first=Dade|date=May 17, 2021|title=David Zaslav And John Stankey Outline Plans For Merging Discovery And WarnerMedia, Addressing Future Of Jason Kilar, CNN, Streaming|url=https://deadline.com/2021/05/discovery-warnermedia-att-merger-streaming-david-zaslav-1234758225/|access-date=May 17, 2021|work=Deadline Hollywood|archive-date=May 17, 2021|archive-url=https://web.archive.org/web/20210517131711/https://deadline.com/2021/05/discovery-warnermedia-att-merger-streaming-david-zaslav-1234758225/|url-status=live}}</ref>

[[Electronic Arts]], who were a bidder in the proposed sale of Warner Bros. Interactive Entertainment, purchased the mobile gaming studio Playdemic from WBIE for {{USD|1.4 billion}} in June 2021.<ref>{{cite web | url = https://deadline.com/2021/06/att-warnermedia-playdemic-mobile-game-studio-electronic-arts-1234780023/ | title = AT&T, WarnerMedia Sell Playdemic Mobile Game Studio To Electronic Arts For $1.4 Billion | first = Jill | last = Goldsmith | date = June 23, 2021 | accessdate = June 23, 2021 | work = [[Deadline Hollywood]] | archive-date = March 31, 2022 | archive-url = https://web.archive.org/web/20220331075838/https://deadline.com/2021/06/att-warnermedia-playdemic-mobile-game-studio-electronic-arts-1234780023/ | url-status = live }}</ref>

In September 2021, WarnerMedia sold [[TMZ]] to [[Fox Corporation]] in a deal worth about $50 million, with TMZ being operated under the [[Fox Entertainment]] division.<ref>{{cite web |last=Hayes |first=Dade |title=Fox Entertainment Closes Acquisition Of TMZ From WarnerMedia |url=https://www.yahoo.com/entertainment/fox-entertainment-closes-acquisition-tmz-201509654.html |website=[[Yahoo!]] |access-date=September 13, 2021 |date=September 13, 2021 |archive-date=March 6, 2023 |archive-url=https://web.archive.org/web/20230306024956/https://www.yahoo.com/entertainment/fox-entertainment-closes-acquisition-tmz-201509654.html |url-status=live }}</ref>

In November 2021, Discovery and WarnerMedia discussed a plan to combine the two streaming services, [[HBO Max]] and [[Discovery+]], into one streaming service in two phases: an initial phase that allows for quick bundling of the services and a second phase that allows for a common service on one tech platform.<ref>{{cite web|url=https://www.fiercevideo.com/video/discovery-hbo-max-may-bundle-combining-after-merger|title=Discovery+, HBO Max may bundle before combining after merger|last=Bunson|first=Ben|work=FierceVideo|date=November 3, 2021|access-date=November 11, 2021|archive-date=November 11, 2021|archive-url=https://web.archive.org/web/20211111192746/https://www.fiercevideo.com/video/discovery-hbo-max-may-bundle-combining-after-merger|url-status=dead}}</ref> In the same month, it was announced that Discovery would rename itself Warner Bros. and reclassify and convert its stock into stock of WBD.<ref>{{Cite web|last=Goldsmith|first=Jill|date=November 18, 2021|title=Discovery, AT&T's WarnerMedia Talks Collapsed In April Before They Clinched May Deal, According To Massive SEC Filing|url=https://deadline.com/2021/11/discovery-att-warnermedia-1234877193/|access-date=November 18, 2021|work=Deadline Hollywood|archive-date=March 6, 2023|archive-url=https://web.archive.org/web/20230306024958/https://deadline.com/2021/11/discovery-att-warnermedia-1234877193/|url-status=live}}</ref>

On December 22, 2021, it was announced that the deal was approved by the [[European Commission]] and it was scheduled to be completed on April 8, 2022, subject to approval by Discovery shareholders and additional closing conditions.<ref>{{cite web|title=Discovery-WarnerMedia Merger Gets European Union Approval|url=https://www.hollywoodreporter.com/business/business-news/discovery-warnermedia-merger-gets-european-union-approval-1235066577/|work=[[The Hollywood Reporter]]|last=Vlessing|first=Etan|date=December 22, 2021|access-date=December 22, 2021|archive-date=May 26, 2022|archive-url=https://web.archive.org/web/20220526171447/https://www.hollywoodreporter.com/business/business-news/discovery-warnermedia-merger-gets-european-union-approval-1235066577/|url-status=live}}</ref><ref>{{cite news|title=European Commission grants approval for Discovery acquisition of WarnerMedia|url=https://www.reuters.com/business/media-telecom/european-commission-grants-approval-discovery-acquisition-warnermedia-2021-12-22/|work=[[Reuters]]|date=December 22, 2021|access-date=December 22, 2021|archive-date=May 26, 2022|archive-url=https://web.archive.org/web/20220526082143/https://www.reuters.com/business/media-telecom/european-commission-grants-approval-discovery-acquisition-warnermedia-2021-12-22/|url-status=live}}</ref>

On January 5, 2022, ''[[The Wall Street Journal]]'' reported that WarnerMedia and ViacomCBS (now known as [[Paramount Global]]) were exploring a possible sale of either a majority stake or all of [[The CW]], and that [[Nexstar Media Group]] was considered a leading bidder.<ref>{{cite web|url=https://www.wsj.com/articles/warnermedia-and-viacomcbs-are-exploring-possible-sale-of-cw-network-11641436892|title=WarnerMedia and ViacomCBS Are Exploring Possible Sale of CW Network|last=Flint|first=Joe|work=The Wall Street Journal|date=January 5, 2022|access-date=January 6, 2022|archive-date=January 6, 2022|archive-url=https://web.archive.org/web/20220106024412/https://www.wsj.com/articles/warnermedia-and-viacomcbs-are-exploring-possible-sale-of-cw-network-11641436892|url-status=live}}</ref> The reports indicated that WarnerMedia and ViacomCBS could include a contractual commitment that would require any new owner to buy new programming from those companies, allowing them to reap some continual revenue through the network.<ref>{{cite web|url=https://www.cbr.com/the-cw-sale-may-kill-original-programming-report/|title=REPORT: The CW's Potential Sale May Kill Its Original Programming|last=Farley|first=Ashley|work=Comic Book Resources|date=January 13, 2022|access-date=January 14, 2022|archive-date=January 14, 2022|archive-url=https://web.archive.org/web/20220114161425/https://www.cbr.com/the-cw-sale-may-kill-original-programming-report/|url-status=live}}</ref> The network's then-president and CEO [[Mark Pedowitz]] at the time confirmed talks of a potential sale in a memo to CW staffers, but added that "It's too early to speculate what might happen."<ref>{{cite web|last=Goldberg|first=Lesley|last2=Weprin|first2=Alex|date=January 6, 2022|title=ViacomCBS and WarnerMedia Exploring Sale of The CW|url=https://www.hollywoodreporter.com/business/business-news/the-cw-for-sale-warnermedia-viacomcbs-1235070616/|access-date=January 9, 2022|work=The Hollywood Reporter|archive-date=January 6, 2022|archive-url=https://web.archive.org/web/20220106130003/https://www.hollywoodreporter.com/business/business-news/the-cw-for-sale-warnermedia-viacomcbs-1235070616/|url-status=live}}</ref><ref>{{cite web|url=https://deadline.com/2022/01/the-cw-sale-warnermedia-viacomcbs-nexstar-1234905157|title=The CW CEO Mark Pedowitz Confirms WarnerMedia & ViacomCBS Exploring "Strategic Opportunities" As Majority Stake In Network Is Shopped With Nexstar Among Suitors" As Majority Stake In Network Is Shopped With Nexstar Among Suitors – Update|last=Andreeva|first=Nellie|work=Deadline Hollywood|date=January 6, 2022|access-date=January 6, 2022|archive-date=January 6, 2022|archive-url=https://web.archive.org/web/20220106063426/https://deadline.com/2022/01/the-cw-sale-warnermedia-viacomcbs-nexstar-1234905157/|url-status=dead}}</ref>

On January 26, 2022, it was reported that the merger between WarnerMedia and Discovery, Inc. was expected to close sometime during the second quarter of 2022.<ref>{{cite web|url=https://www.cordcuttersnews.com/warnermedia-and-discovery-merger-now-expected-to-close-this-spring/|title=WarnerMedia and Discovery Merger Now Expected to Close This Spring|last=Hepburn|first=Tmera|work=Cord Cutters News|date=January 26, 2022|access-date=January 27, 2022|archive-date=January 26, 2022|archive-url=https://web.archive.org/web/20220126211826/https://www.cordcuttersnews.com/warnermedia-and-discovery-merger-now-expected-to-close-this-spring/|url-status=live}}</ref><ref>{{cite web|url=https://www.c21media.net/news/warnermedia-discovery-merger-expected-to-close-in-q2-says-atts-stankey/|title=WarnerMedia-Discovery merger expected to close in Q2, says AT&T's Stankey|last=Pinto|first=Jordan|work=C21 Media|date=January 27, 2022|access-date=January 27, 2022|archive-date=January 27, 2022|archive-url=https://web.archive.org/web/20220127082812/https://www.c21media.net/news/warnermedia-discovery-merger-expected-to-close-in-q2-says-atts-stankey/|url-status=live}}</ref>

On February 1, 2022, it was reported that AT&T was going to spin off WarnerMedia in a $43 billion deal.<ref>{{cite web|url=https://variety.com/2022/biz/news/att-spin-off-warnermedia-43-billion-deal-1235168480/|title=AT&T Sets Plan to Spin Off WarnerMedia in $43 Billion Deal|last=Spangler|first=Todd|work=Variety|date=February 1, 2022|access-date=February 1, 2022|archive-date=February 1, 2022|archive-url=https://web.archive.org/web/20220201120629/https://variety.com/2022/biz/news/att-spin-off-warnermedia-43-billion-deal-1235168480/|url-status=live}}</ref><ref>{{cite web|url=https://www.hollywoodreporter.com/business/business-news/att-warnermedia-spin-off-discovery-merger-1235084978/|title=AT&T Picks WarnerMedia Spin-Off as Structure for Key Step in Discovery Merger|last=Szalai|first=George|work=The Hollywood Reporter|date=February 1, 2022|access-date=February 1, 2022|archive-date=February 1, 2022|archive-url=https://web.archive.org/web/20220201120404/https://www.hollywoodreporter.com/business/business-news/att-warnermedia-spin-off-discovery-merger-1235084978/|url-status=live}}</ref> Also on the same month, it was announced that the WarnerMedia and Discovery merger was approved by the Brazilian antitrust regulator [[Administrative Council for Economic Defense|Cade]].<ref>{{cite web|url=https://noticiasdatv.uol.com.br/noticia/mercado/cade-surpreende-e-aprova-fusao-discoverywarnermedia-sem-restricoes-no-brasil-74806|title=Cade surpreende e aprova fusão Discovery/WarnerMedia sem restrições|website=Notícias da TV|date=February 7, 2022|language=pt|access-date=February 8, 2022|archive-date=February 9, 2022|archive-url=https://web.archive.org/web/20220209193522/https://noticiasdatv.uol.com.br/noticia/mercado/cade-surpreende-e-aprova-fusao-discoverywarnermedia-sem-restricoes-no-brasil-74806|url-status=live}}</ref>

On February 9, 2022, it was announced that the deal was approved by the [[United States Department of Justice]].<ref>{{cite web|title=Discovery-WarnerMedia Merger Gets U.S. Antitrust Clearance|url=https://www.hollywoodreporter.com/business/business-news/discovery-warnermedia-merger-gets-u-s-antitrust-clearance-1235089790/|work=[[The Hollywood Reporter]]|last=Szalai|first=Georg|date=February 9, 2022|access-date=February 9, 2022|archive-date=April 16, 2022|archive-url=https://web.archive.org/web/20220416065142/https://www.hollywoodreporter.com/business/business-news/discovery-warnermedia-merger-gets-u-s-antitrust-clearance-1235089790/|url-status=live}}</ref> A day later, it was announced that Discovery's shareholders would board on meeting on March 11 to vote on the WarnerMedia merger.<ref>{{cite web|last=Goldsmith|first=Jill|date=February 10, 2022|title=Discovery Sets March 11 For Shareholder Vote On WarnerMedia Merger|url=https://deadline.com/2022/02/discovery-warnermedia-shareholder-vote-merger-1234931163/|access-date=February 10, 2022|work=Deadline Hollywood|archive-date=May 26, 2022|archive-url=https://web.archive.org/web/20220526082143/https://deadline.com/2022/02/discovery-warnermedia-shareholder-vote-merger-1234931163/|url-status=live}}</ref> The deal was approved by Discovery shareholders on the same date.<ref>{{cite web|url=https://variety.com/2022/tv/news/discovery-warnermedia-merger-approvbed-investor-vote-1235201881/|title=Discovery Shareholders Approve $43 Billion WarnerMedia Merger|work=Variety|date=11 March 2022|access-date=March 11, 2022|archive-date=26 May 2022|archive-url=https://web.archive.org/web/20220526195259/https://variety.com/2022/tv/news/discovery-warnermedia-merger-approvbed-investor-vote-1235201881/|url-status=live}}</ref>

On February 23, 2022, it was announced that the WarnerMedia-Discovery merger would close on April 8.<ref>{{cite web|last=Maas|first=Jennifer|date=February 23, 2022|title=AT&T, Discovery Prepare for Mid-April Close of WarnerMedia Deal|url=https://variety.com/2022/tv/news/warnermedia-discovery-april-close-att-deal-1235188683/|access-date=February 27, 2022|work=Variety|archive-date=March 6, 2023|archive-url=https://web.archive.org/web/20230306025012/https://variety.com/2022/tv/news/warnermedia-discovery-april-close-att-deal-1235188683/|url-status=live}}</ref> On March 25, it was announced that AT&T would spin off WarnerMedia on April 8, marking AT&T's official exit from the entertainment business.<ref>{{cite web|date=March 25, 2022|title=AT&T Announces Details for Completion of WM Spin-Off|url=https://about.att.com/story/2022/details-for-completion-of-warnermedia-spinoff.html|access-date=March 26, 2022|work=[[AT&T]]|archive-date=March 25, 2022|archive-url=https://web.archive.org/web/20220325234650/https://about.att.com/story/2022/details-for-completion-of-warnermedia-spinoff.html|url-status=live}}</ref>

On April 5, it was announced that Kilar; [[Ann Sarnoff]], Chair and CEO of WarnerMedia Studios and Networks Group; as well as Andy Forssell, executive vice president and general manager of HBO Max; were stepping down from their roles.<ref>{{Cite web|last=Hayes|first=Dade|last2=D'Alessandro|first2=Anthony|date=April 5, 2022|title=Ann Sarnoff Departing As WarnerMedia Studios And Networks Chief|url=https://deadline.com/2022/04/ann-sarnoff-departs-warnermedia-studios-networks-discovery-1234995143/|work=Deadline Hollywood|access-date=April 6, 2022|archive-date=June 6, 2023|archive-url=https://web.archive.org/web/20230606172313/https://deadline.com/2022/04/ann-sarnoff-departs-warnermedia-studios-networks-discovery-1234995143/|url-status=live}}</ref> The next day, [[chief financial officer]] Jennifer Biry, [[chief human resources officer]] Jim Cummings, [[chief revenue officer]] Tony Goncalves, communications and [[Chief diversity officer|chief inclusion officer]] [[Christy Haubegger]], WarnerMedia [[general counsel]] Jim Meza and [[chief technology officer]] Richard Tom were confirmed to be stepping down.<ref>{{Cite web|last=Maas|first=Jennifer|date=April 6, 2022|title=Discovery Makes Big WarnerMedia Executive Suite Changes Ahead of Merger; Toby Emmerich and Gerhard Zeiler to Remain|url=https://variety.com/2022/tv/news/discovery-warnermedia-executives-fired-1235226592/|work=Variety|access-date=April 7, 2022|archive-date=March 29, 2023|archive-url=https://web.archive.org/web/20230329160431/https://variety.com/2022/tv/news/discovery-warnermedia-executives-fired-1235226592/|url-status=live}}</ref> The merger was completed on April 8.<ref>{{cite web|last=Koblin|first=John|date=April 8, 2022|title=Hollywood Gets a New Giant|url=https://www.nytimes.com/2022/04/08/business/media/discovery-warner-media.html|work=The New York Times|access-date=April 8, 2022|archive-date=October 13, 2023|archive-url=https://web.archive.org/web/20231013195439/https://www.nytimes.com/2022/04/08/business/media/discovery-warner-media.html|url-status=live}}</ref>

After its merger with Discovery, Inc. to become [[Warner Bros. Discovery]] (WBD), WarnerMedia became defunct on April 8 but its corporate name is still used, such as on products of WBD's subsidiaries like on the DVDs of [[Cartoon Network]] and [[Adult Swim]] shows and movies.