The US giant AT&T and Discovery have announced a deal to merge WarnerMedia’s entertainment, sports and news assets with Discovery’s international entertainment and sports companies to create a unique, high-end global entertainment company.   In accordance with the agreement, AT&T will receive a total of $43 billion of cash, debt and the retention of certain debts of WarnerMedia. If approved by regulators, AT&T shareholders will receive 71% of the shares in the new company, while Discovery shareholders will own 29%.   It is expected that the deal will deliver significant value to both AT&T and Discovery shareholders. This merger will bring together the strongest teams of media business leaders and content creators, and include industry-leading libraries of films and series. The merger will create a new business that could be valued $150 billion, including debt.   This transaction gives AT&T and its shareholders the opportunity to leverage the value of…