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Angel Investor (Individual)

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Investments

2

Portfolio Exits

1

About David Zaslav

David Zaslav Headquarter Location

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Latest David Zaslav News

AT&T’s ‘tax-free’ plan for Discovery-WarnerMedia secures IRS approval

Jan 5, 2022

David Zaslav US telco AT&T has secured a favourable ruling from the US Internal Revenue Service (IRS) for its plan for a tax-free merger of its WarnerMedia unit with Discovery. The pair had previously announced that the merger would take advantage of a merger provision in US law that would ensure its tax-free status. AT&T will achieve this by spinning off WarnerMedia while retaining a majority stake in the merged entity. The telco’s shareholders will have a 71% stake in the combined company, which will be led by Discovery CEO David Zaslav and CFO Gunnar Wiedenfels. AT&T will however name a majority of the company’s board members. European approval The IRS ruling, reported by AT&T in a regulatory filing, follows another key recent step in the merger process: approval by the European Commission. The EC competition authorities approved the deal with no conditions just before Christmas, leaving the merger on track for anticipated completion towards the middle of this year. The merger remains subject to approval by Discovery’s shareholders and other regulatory approvals. “Approval from the European Commission is a key milestone toward completing our proposed transaction with AT&T,” said Zaslav of the EC’s unconditional green light. “Today we move one important step closer to creating Warner Bros. Discovery, a premier entertainment company that will be one of the world’s leading investors in premium content and one positioned to serve consumers with what we believe will be the most complete content offering under one roof.”

David Zaslav Investments

2 Investments

David Zaslav has made 2 investments. Their latest investment was in Fly Blade as part of their Series A - II on July 7, 2016.

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David Zaslav Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

7/21/2016

Series A - II

Fly Blade

No

4

5/19/2015

Series A

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$99M

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10

Date

7/21/2016

5/19/2015

Round

Series A - II

Series A

Company

Fly Blade

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Amount

$99M

New?

No

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Co-Investors

Sources

4

10

David Zaslav Portfolio Exits

1 Portfolio Exit

David Zaslav has 1 portfolio exit. Their latest portfolio exit was Fly Blade on December 15, 2020.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

12/15/2020

Acq - Pending

$99M

1

Date

12/15/2020

Exit

Acq - Pending

Companies

Valuation

$99M

Acquirer

Sources

1

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