AT&T Discovery WarnerMedia Deal Timeline

WarnerMedia has been owned by telco big AT&T for lower than 4 years and it’ll quickly have a brand new guardian firm — probably by the tip of subsequent month.

Discovery’s shareholder vote on the acquisition of WarnerMedia is about for right this moment throughout a particular assembly of stockholders set for 10 a.m. ET. The deal is predicted to get a straightforward thumbs-up given the approval already bestowed by Discovery’s oldest and most influential holders, investor John Malone and Advance/Newhouse Co. Each agreed to transform long-held most popular shares into widespread shares order to easy the trail for the spinoff mixture.

As Discovery conducts a principally ceremonial ballot of shareholders, AT&T is signaling the beginning of a brand new chapter. The telco big will conduct a digital investor convention at the very same time because the vote to unveil its post-spinoff technique. The push into leisure was initiated by the earlier regime led by former AT&T chairman-CEO Randall Stephenson. His successor, John Stankey, has been cleansing up the debt and destruction ever since.

Stankey has hedged his bets in unloading WarnerMedia with a deal that arms management to the Discovery camp however leaves his shareholders with 71% of the enlarged firm.

Nonetheless, AT&T’s brief however eventful stewardship of Warner Bros., HBO, CNN and the Turner networks is nigh. Right here’s a glance again at key moments throughout AT&T’s bumpy trip in Hollywood.

2016

Oct. 20 — The primary report surfaces, within the Wall Avenue Journal, that AT&T is in superior talks to accumulate Time Warner.

Oct. 22 — AT&T unveils an settlement to accumulate Time Warner for $85.4 billion.

Nov. 9 — Republican presidential candidate Donald Trump, who repeatedly criticized CNN and vowed to dam AT&T’s acquisition, is elected president of the US.

2017

Feb. 15 — Time Warner shareholders approve the merger with AT&T.

Feb. 28 — FCC chairman Ajit Pai refuses to evaluation the AT&T-Time Warner merger, passing the choice to the Division of Justice.

Nov. 8 — AT&T CEO Randall Stephenson and Makan Delrahim, head of the Justice Division’s antitrust division, meet to debate suggestions for AT&T to divest DirecTV or Turner Broadcasting to assuage antitrust issues.

Nov. 20 — The Justice Division recordsdata a lawsuit to dam the AT&T-Time Warner acquisition. The feds say the deal would “significantly hurt American customers.” AT&T blasts the Trump administration for its “radical and inexplicable departure from many years of antitrust precedent.”

Dec. 22 — Shareholders vote to increase the merger settlement deadline to June 21, 2018.

2018

March 19 — The antitrust trial begins earlier than U.S. District Courtroom Choose Richard Leon in Washington, D.C.

April 18 — Time Warner CEO Jeff Bewkes testifies, disputing the enterprise case for the federal government’s thesis that the enlarged firm would withhold its content material from rival distributors. “We need to be on all platforms. We need to be in each bundle, all over the place,” he tells Choose Leon.

April 19 — AT&T’s Stephenson testifies, explaining AT&T’s sense of urgency to accumulate a major content material studio. “In the event you miss one know-how cycle, it might not kill you, however it’ll make you sick for a really very long time,” he tells Choose Leon.

Could 23 — AT&T’s Stephenson causes a stir inside Time Warner by saying at an investor convention that episodes of HBO’s “Recreation of Thrones” could also be higher in a cell expertise in the event that they have been hacked down to twenty minutes apiece.

June 12 — Choose Leon guidelines in favor of AT&T, going as far as to say within the opinion that an attraction by the federal government would result in “sure irreparable hurt to the defendants.”

June 14 — AT&T pronounces the shut of its transaction to accumulate Time Warner. Jeff Bewkes is succeeded by John Stankey as CEO of Time Warner.

June 15 — AT&T rebrands Time Warner as WarnerMedia.

July 12 — The Justice Division recordsdata an attraction within the AT&T antitrust case.

Sept. 25 — AT&T launches promoting and analytics arm Xandr.

Oct. 10 — WarnerMedia reveals plans to launch a streaming service in 2019.

Dec. 14 — The early stirrings of HBO Max take form when TNT and TBS president Kevin Reilly is promoted to chief content material officer of digital and subscription for WarnerMedia.

2019

Feb. 26 — The U.S. Courtroom of Appeals in Washington, D.C. unanimously upholds the ruling in favor of the AT&T-Time Warner deal.

Feb. 28 — Longtime Turner senior government David Levy and longtime HBO chief Richard Plepler abruptly exit the corporate amid rumors of an enormous AT&T-drive restructuring forward.

March 4 — AT&T reveals a significant reorganization: Bob Greenblatt joins as chairman of WarnerMedia Leisure and direct-to-consumer. Warner Bros. chairman-CEO Kevin Tsujihara provides oversight of world children and younger adults enterprise. CNN chief Jeff Zucker promoted to chairman of stories and sports activities for WarnerMedia, taking over oversight of Turner Sports activities and AT&T’s regional nets.

March 18 — Warner Bros.’ Tsujihara abruptly resigns following a scandal over his relationship with an aspiring feminine actor.

June 24 — BBC Studios Americas president Ann Sarnoff is known as chair-CEO of Warner Bros.

July 9 — WarnerMedia reveals its streaming service shall be named HBO Max.

Aug. 22 — Sarnoff formally begins her tenure as head of Warner Bros.

Sept. 3 — Stankey is promoted to AT&T president and chief working officer.

Sept. 12 — WarnerMedia indicators J.J. Abrams to an enormous manufacturing pact valued at $500 million, demonstrating AT&T’s dedication to preserving the studio within the dealmaking massive leagues.

2020

April 1 — Former Hulu chief Jason Kilar named WarnerMedia CEO.

April 21 — WarnerMedia units HBO Max launch date as Could 27, pricing it at $14.99 a month.

April 30 — Xandr is folded into WarnerMedia.

Could 27 — HBO Max launches amid the pandemic.

Aug. 7 — In an enormous government shakeup, Reilly, Greenblatt and WarnerMedia company communications chief Keith Cocozza exit the corporate. Warner Bros.’ Sarnoff is promoted to supervise the newly expanded content material group. HBO programming president Casey Bloys provides oversight of programming at HBO Max and WarnerMedia’s fundamental cablers.

Aug. 10 — AT&T begins layoffs for 800 workers, primarily from Warner and HBO.

Oct. 8 — WarnerMedia pronounces plans to chop 1,000 jobs to scale back prices by no less than 20% in response to revenue hit taken throughout COVID-19 pandemic.

Nov. 18 — Warner Bros. pronounces that “Marvel Lady 1984” will debut on HBO Max on Dec. 25, the identical day it’s set to open in U.S. film theaters.

Dec. 3 — Warner Bros. pronounces that its complete 2021 slate — an inventory of 17 movies that features blockbusters like “The Matrix Resurrections” and Denis Villeneuve’s “Dune” remake — will debut each on HBO Max and in theaters on their respective launch dates.

2021

Could 16 — Bloomberg Information reviews that AT&T is in superior talks with Discovery to craft a by-product deal for WarnerMedia, with Discovery CEO David Zaslav main the enlarged firm.

Could 17 — Stankey and Discovery CEO David Zaslav formally announce the $43 billion proposed merger.

June 1 — Discovery units Warner Bros. Discovery because the title of the merged firm.

June 23 — Digital Arts purchases Warner Bros. Interactive Leisure’s Playdemic for $1.4 billion.

Sept. 13 — Fox Corp. acquires TMZ from WarnerMedia.

Dec. 21 — AT&T pronounces plans to promote Xandr to Microsoft.

Dec. 22 — European Fee approves Discovery-WarnerMedia deal.

2022

Jan. 5 — Reviews emerge that WarnerMedia and ViacomCBS are exploring a potential sale of a majority stake within the CW community with Nexstar Media Group because the main potential purchaser.

Feb. 1 — AT&T decides to do a by-product of WarnerMedia somewhat than construction the deal as a split-off.

Feb. 9 — The Justice Division approves Discovery-WarnerMedia merger.

Feb. 10 — Discovery units March 11 for a shareholder vote on the merger.

March 2 — AT&T units March 11 for an investor presentation day.