AT&T to spinoff WarnerMedia interest
In February 2022, AT&T, Inc. (AT&T) announced that its board of directors had determined to spin off AT&T’s interest in WarnerMedia in connection with the previously announced transaction with Discovery, Inc. The transaction, which will spin off 100.0% of AT&T’s interest in WarnerMedia to AT&T’s existing shareholders in a pro rata distribution, followed by the merger of WarnerMedia with Discovery, is expected to close in the second quarter of 2022. Under the terms of the transaction, AT&T will receive $43.0 billion (subject to working capital and other adjustments) in a combination of cash and other consideration
Product Innovation|Competition|StructuralIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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