The proposed Discovery-WarnerMedia merger has a new name: Warner Bros. Discovery.
The company says the initial wordmark will include a line from the famed Warner Bros. movie "The Maltese Falcon": "The stuff that dreams are made of."
Discovery Inc says the new name honors the “world’s most-storied creative studio in the world,” which is owned by AT&T.
The $43 billion announced deal will give AT&T’s shareholders 71% ownership in the new company, with Discovery Inc. shareholders have 29%.
The combined company says it will have 200,000 hours of programming and over 100 brands, including HBO, Warner Bros., Discovery, DC, CNN, WB Games, Turner Sports, Cartoon Network, HGTV, Food Network, TNT, TBS, Turner Classic Movies, Wizarding World, Adult Swim, Eurosport, Magnolia, TLC, Animal Planet and ID.
The two companies will spend $20 billion in movie and TV content this year -- exceeding rival streaming platform Netflix, which intends to spend $17 billion this year.
Later this week, WarnerMedia is scheduled to offer specific details around its ad-supported version of HBO Max. How the two companies' main streaming platforms -- Discovery+ and HBO Max -- will combine or operate in the future is still not known.
Discovery Inc.'s share was trading down 0.2% to $32.04 in early Tuesday morning trading, while AT&T was down 0.4% to $29.30.