CNN’s update on Discovery’s merger with WarnerMedia:

A media behemoth is born

David can actually beat Goliath!”

That’s how Rich Greenfield, the influential LightShed Partners media analyst, summed up Friday’s big media news, the completion of Discovery’s merger with WarnerMedia. CEO David Zaslav and team “find themselves in a position that was unimaginable two years ago — sitting near the top of Hollywood,” Greenfield said.

Yes, Warner Bros. Discovery was officially born on Friday afternoon, right after the end of the trading day. The merger creates a media mammoth that will reshape the streaming landscape.