The deal is comprised of cash and stock and is valued at $27.75 per WBD share, the companies said. That puts the total enterprise value of the transaction at approximately $82.7 billion.
The deal is for WBD’s film studio and streaming service, HBO Max. Warner Bros. Discovery will still spin out its TV networks, which includes TNT and CNN, as previously planned.
I found the disclosure funny:
Disclosure: Comcast is the parent company of NBCUniversal, which owns CNBC. Versant would become the new parent company of CNBC upon Comcast’s planned spinoff of Versant.
Like Russian nesting dolls.