Discovery holders sign off on AT&T media merger, setting up April close
Frederick M. Brown/Getty Images Entertainment


Discovery (DISCA
-1.3%) stockholders have approved the company's media merger with WarnerMedia (T
+1.6%), the last key formality before the creation of Warner Bros. Discovery as a key media-industry player.
At a special meeting the shareholders signed off on charter amendments, a proposal to issue shares in connection with the deal, and a nonbinding advisory compensation proposal.

Both boards had approved the deal and it's received regulatory go-aheads.
The two companies have recently been signaling that with Discovery holder approval in hand they will proceed toward closing by mid- to late April.
Morgan Stanley last week took a look at catalysts driving the new, media-free AT&T to come.
AT&T is currently holding its Investor Day presentations describing its way forward as a communications and broadband company.