WBD settles merger suit for $125m
July 8, 2024
Warner Bros Discovery (WBD) has settled a claim from some shareholders relating to the 2022 merger of AT&T’s Warner Bros and Discovery. They had claimed the $43 billion deal was too preferential to bigger sharedholders.
Now, through mediation, the two sides have agreed to a $125 million settlement that will bring the lawsuit to an end, according to court filings reported in Deadline.
Under the deal, AT&T holds a 71 per cent ownership of WBD, and the old Discovery company owns the remaining 29 per cent but with the leadership team from Discovery running the newly formed WBD company.