Discovery-WarnerMedia Merger Gets U.S. Antitrust Clearance

Author: Editors Desk Source: THR (The Hollywood Reporter)

February 9, 2022 at 09:15

Discovery's David Zaslav and AT&T's John Stankey. COURTESY

The mega-deal is expected to close in the second quarter after a key antitrust waiting period expired.

The planned mega-merger of Discovery and AT&T’s WarnerMedia has received U.S. antitrust clearance, Discovery said in a regulatory filing on Wednesday.

“As of February 9, 2022, Discovery, Inc. and AT&T Inc. have satisfied the closing condition … of the Agreement and Plan of Merger, dated as of May 17, 2021, by and among Discovery, AT&T, Drake Subsidiary, Inc. and Magallanes, Inc. relating to the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended,” Discovery said in a regulatory filing. “The HSR Act statutory waiting period has expired or otherwise been terminated, and any agreement not to consummate the transaction between the parties and the Federal Trade Commission or the Antitrust Division of the United States Department of Justice or any other applicable governmental entity, has also expired or otherwise been terminated.”

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