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Rivian stock soars after Volkswagen says it'll invest up to US$5 billion in JV

UPDATE 1-European Commission grants approval for Discovery acquisition of WarnerMedia

Reuters
·1 min read

(Adds history)

Dec 22 (Reuters) - Discovery Inc said on Wednesday the European Commission has granted unconditional antitrust approval to its proposed acquisition of WarnerMedia assets from AT&T Inc.

The regulatory approval moves the deal one step closer to being finalized. Discovery has said it expects to complete its WarnerMedia transaction by mid-2022, subject to other regulatory approvals.

AT&T announced in May that it would spin off its WarnerMedia division and merge it with Discovery, effectively unwinding its $85 billion acquisition of Time Warner that closed in 2018. (Reporting by Dawn Chmielewski and Helen Coster; Editing by Mark Porter)