WarnerMedia and Discovery Inc. will become Warner Bros. Discovery when their merger closes in mid-2022.
The new name was unveiled June 1 at a town hall with employees at the Warner Bros. lot in Burbank.
Dallas-based telecommunications conglomerate AT&T announced in May that it would spin off WarnerMedia in a deal with Discovery valued at $43 million. The new publicly traded company will take over all of AT&T’s entertainment holdings, including HBO, CNN, Animal Planet, Food Network and Warner Bros.
Along with the name, a new logo — a cloudy sky with gold lettering — was released. The design is based on WarnerMedia branding and will include the tagline “the stuff that dreams are made of,” a reference to a line in the Warner’s film "The Maltese Falcon."
Zaslav will head the new company. A position has not been announced for WarnerMedia Chief Executive Jason Kilar, according to Variety.
Zaslav, according to The Hollywood Reporter, is considering a "range of options" in how the merged company will package its streaming content. That could include a "super" bundle similar to those offered by Disney Plus and Hulu.
Under terms of the all-stock deal, which is subject to regulatory approval, AT&T shareholders will receive stock representing 71% of the new company, while Discovery shareholders will receive 29%.