It was announced today that the European Commission has granted unconditional antitrust clearance for the proposed acquisition of AT&T's WarnerMedia by Discovery.
Discovery CEO David Zaslav said, "Approval from the European Commission is a key milestone toward completing our proposed transaction with AT&T. Today we move one important step closer to creating Warner Bros. Discovery, a premier entertainment company that will be one of the world's leading investors in premium content and one positioned to serve consumers with what we believe will be the most complete content offering under one roof."
AT&T is set to receive $43 billion in cash, debt securities, some retention of debt by WarnerMedia, and stock to AT&T shareholders.
The deal's closing should be sometime in mid-2022.
