AT&T, the owner of HBO and Warner Bros studios, and cable and streaming network Discovery, the owner of lifestyle TV networks such as HGTV and TLC

AT&T, Discovery to launch global streaming media giant

AT&T, Discovery to launch global streaming media giant


AT&T, the owner of HBO and Warner Bros studios, and cable and streaming network Discovery, the owner of lifestyle TV networks such as HGTV and TLC, will combine their media assets to create a standalone global streaming business, the US telecommunications giant said on Monday.

The proposed deal would put together one of Hollywood’s most powerful studios, home to the Harry Potter and Batman franchises, with Discovery’s stable of unscripted home, cooking and nature and science shows.

The deal also marks the unwinding of AT&T’s US$108.7-billion acquisition of US media conglomerate Time Warner in 2018, and underscores its recognition that TV viewership has moved to streaming, where scale is required to take on the likes of Netflix and Walt Disney.


Under the terms, AT&T would receive $43-billion in a combination of cash, debt securities and Warner Media’s retention of certain debt

Discovery president and CEO David Zaslav will lead the new company.

Under the terms, AT&T would receive $43-billion in a combination of cash, debt securities and WarnerMedia’s retention of certain debt. AT&T’s shareholders would receive stock representing 71% of the new company, while Discovery shareholders would own 29% of the new company.

With the acquisition of Time Warner, AT&T sought to create a media and telecoms powerhouse, combining content and distribution.

Costly

Yet this proved a costly strategy as it simultaneously sought to expand next-generation wireless services, most recently borrowing $14-billion to buy more wireless spectrum.

The new company is projected to have 2023 revenue of about $52-billion and adjusted Ebitda, or earnings before interest, tax, depreciation and amortisation, of about $14-billion as well as $3-billion in expected annual cost synergies.

The deal is anticipated to close in mid-2022, pending approval by Discovery shareholders and regulatory approvals. — Reported by Kenneth Li and Subrat Patnaik, (c) 2021 Reuters TIME WARNER TOP WARNER BROS

What did the Pope know about the Holocaust?

What did the Pope know about the Holocaust? Continued ^

The Vatican opened once-secret records on Pope Pius XII on March 2020. This gave researchers a brand new insight into the Catholic Church during the Nazi era. What did the Pope know about the Holocaust? Pius XII, born Eugenio Pacelli, is one of the most controversial figures in recent church history. New archive material sheds light on his career and politics. As ambassador of the Holy See in Germany and Cardinal Secretary of State of the Vatican, Pacelli witnessed Hitler’s rise to power. He was elected Pope in 1939, just months before the start of World War II. But what role did he play during the Holocaust? Many accuse him of shirking his responsibilities; of complicit silence while minorities were murdered, especially the Jewish. Just days after the archives opened, church historian Hubert Wolf discovered a document describing the liquidation of the Warsaw Ghetto. Pope Pius XII read the paper on 27 September 1942, but its contents were never published. Nor were the notes in the margins by members of the Secretariat of State. But the Vatican claimed for decades that nothing was kept from the public. Defenders of Pius XII say he acted in secret to save the lives of many Jews. Thousands were hidden in church institutions, and the Roman Curia helped them to escape abroad. But the credibility of the Roman Curia during the Holocaust is now at stake, with many still unanswered questions. Why did Pius XII not join the Allies’ protest in December 1942 against the extermination of the Jews? The truth needs no protection. Just as lightning precedes thunder. It only takes patience. As eventually all those documents found themselves disclosed and not only did he know about the horrors; a deal was made months prior. The only objection was regarding the amount of Art, jewels & cash the church 'would receive. Not only did he know about their plan but he knew more than any other country or individual as the Nazi's required the assistance of hiding the stolen loot. Very little went to the church, relatively speaking as the Pope stole much of it for his own collection, for many years the wealth was used to manipulate & payoff anyone who threatened to expose him. This may be the reason over 90% of wealthy Germans are so secretive about their wealth. It has nothing to do with 'old money' or culture as wealth gotten in the 20th century is very much new money. After much research the majority of those who's wealth was made in the 18th century is not considered 'Old Money'

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