AT&T (T) May Have to Cut Dividend - Cramer

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AT&T (T) to Merge Media Assets with Discovery (DISCA) in Blockbuster Deal, Valuation Estimated at $150 Billion

May 17, 2021 7:52 AM EDT

AT&T (NYSE: T) has announced today an agreement to combine WarnerMedias assets with Discovery (NASDAQ: DISCA) in an all-stock deal.

Under the terms of the deal, which has been approved by both companies, AT&T would receive $43 billion in a combination of cash, debt securities, and WarnerMedias retention of certain debt.

Moreover, AT&Ts shareholders would receive stock representing 71% of the new company, while Discovery shareholders would own 29% of the new company. The Financial Times reported that the new company could be valued at as much... More