Warner Bros Discovery is born. Discovery, Inc. and AT&T Inc. (NYSE:T) have announced the completion of the transaction to combine WarnerMedia’s business with Discovery.

The new company is named Warner Bros. Discovery, Inc. and will debut on Nasdaq on Monday, April 11, under the new symbol “WBD”.

Warner Bros. Discovery will have the world’s most comprehensive portfolio of entertainment content and brands. The new company combines the premium entertainment, sports, and news offering of WarnerMedia with Discovery’s leading international entertainment and sports properties, including Discovery Channel, discovery+, Warner Bros.

What include Warner Bros Discovery?

In fact has this channel: Entertainment, CNN, CNN+, DC, Eurosport, HBO, HBO Max, HGTV, Food Network, Investigation Discovery, TLC, TNT, TBS, truTV, Travel Channel, MotorTrend, Animal Planet, Science Channel, New Line Cinema, Cartoon Network, Adult Swim, Turner Classic Movies, and many more.

Under the terms of the agreement, structured as a Reverse Morris Trust transaction, at closing, AT&T received $40.4 billion in cash and the assumption of certain debts by WarnerMedia.

In addition, AT&T shareholders received 0.241917 shares of WBD for each AT&T common share. As a result, AT&T shareholders received 1.7 billion shares of WBD, which represent 71% of the outstanding shares of WBD. Discovery’s current shareholders own the rest of the new company.

In fact, in addition to their new common shares of WBD, AT&T shareholders continue to hold the same number of AT&T common shares they owned immediately prior to the closing.