The name for the new media company launched as a result of the infamous WarnerMedia-Discovery merger has been declared, along with a tagline and logo. Telecom giant AT&T acquired Time Warner for $85 billion back in 2016, and it has since been renamed as WarnerMedia.
Today, the name of the united company was revealed to be Warner Bros. Discovery. David Zaslav, chief executive of Discovery and the expected CEO for the new company, announced the name to staff members from the Warner Bros. studio lot situated in Burbank.
The tagline reads “The stuff that dreams are made of,” and the logo boasts a new but old-timey feel to it. Read Zaslav’s statement below:
“Warner Bros. Discovery will aspire to be the most innovative, exciting, and fun place to tell stories in the world—that is what the company will be about. We love the new company’s name because it represents the combination of Warner Bros.’ fabled hundred-year legacy of creative, authentic storytelling and taking bold risks to bring the most amazing stories to life, with Discovery’s global brand that has always stood brightly for integrity, innovation, and inspiration.”David Zaslav
The company’s slogan is a quote taken from the 1941 Warner Bros. film The Maltese Falcon. Besides paying homage to the studio’s rich history of Hollywood classics, the tagline is also an indication of what the new company will stand for.
As per Warner Bros. Discovery, the new name is meant to “honor, celebrate and elevate the world’s most-storied creative studio in the world with the high quality, global nonfiction storytelling heritage of Discovery.” However, since the merger is yet to be approved by federal regulators, there’s much unknown about the new company.
This comes after Amazon’s recent acquisition of MGM studios at $8.45 billion and the 2019 merger of Viacom and CBS. Last month, AT&T announced it would be merging WarnerMedia with Discovery to set up a single media company reportedly valued at $150 billion.
Many even consider the deal to be an effort at increasing their streaming presence, as Discovery and HBO combined only have about 80 million subscribers against the massive numbers of Disney+’s 100 million and Netflix’s 208 million. Although the new merged company’s structure remains unclear as of now, they are expected to provide an HBO Max-Discovery+ bundle.
Either way, it will be interesting to see whether this massive merger affects their subscriber count for the better and how it competes with other streaming giants. Hopefully, much more becomes apparent by 2022 when the WarnerMedia-Discovery deal officially wraps up.