Discovery Inc. (DISCA.O) said on Wednesday that the European Commission has given its planned purchase of WarnerMedia assets from AT&T Inc. unconditional antitrust approval (T.N).
The regulatory clearance brings the transaction one step closer to completion. Discovery has stated that it aims to complete the WarnerMedia acquisition by the middle of 2022, pending regulatory clearances.
In May, AT&T announced that it will spin off its WarnerMedia subsidiary and merge it with Discovery, thereby undoing its $85 billion purchase of Time Warner in 2018.
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