New media company from AT&T spinoff will be called Warner Bros. Discovery - CNBC

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Source: Warner Bros.

The next big player in the streaming wars now has a name: Warner Bros. Discovery.

David Zaslav, the Discovery CEO who will lead the new combined venture if cleared by regulators, announced the name to WarnerMedia employees Tuesday, according to a press release.

"We love the new company's name because it represents the combination of Warner Bros.' fabled hundred year legacy of creative, authentic storytelling and taking bold risks to bring the most amazing stories to life, with Discovery's global brand that has always stood brightly for integrity, innovation and inspiration," Zaslav told the employees from the studio lot in Burbank, California, according to the release.

The company's tagline will be, "the stuff that dreams are made of," in a nod to the 1941 Warner Bros. film "The Maltese Falcon."

The new media company would be the result of a $43 billion proposed merger between Discovery and WarnerMedia, which AT&T said it would spin out just three years after buying Time Warner (as it was named at the time) following a protracted battle with the Justice Department.

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