Debevoise & Plimpton LLP has advised Discovery, Inc. (Nasdaq: DISCA, DISCB, DISCK) in connection with the offering of $30 billion of senior unsecured notes by Magallanes, Inc. (“Spinco”), a wholly-owned subsidiary of AT&T Inc. The Notes were offered and sold by Spinco and certain selling security holders, as applicable, in connection with the previously announced acquisition by Discovery of WarnerMedia from AT&T in a Reverse Morris Trust-type transaction. For more information, please see the press release.

The Debevoise team was led by capital markets partner Matthew Kaplan and senior associate Benjamin Pedersen and included associates Alice Gu and Carly Hill and law clerks Mihir Awati, Jordana Palgon and Maayan Stein, M&A partners Jonathan Levitsky, Sue Meng, William Regner and Jeffrey Rosen and associates Erik Andrén, Marisa Demko, Robert Geren, Sarah Jacobson, Caitlin Joseph and Katherine Durnan Taylor and law clerk Dillon Roach, finance partners Ramya Tiller and Jeffrey Ross, associates Louis Sanchez and Jonathan Yeung, benefits partners Lawrence Cagney and Simone Hicks, counsel Douglas Hirn and associates Spencer Mizerak and Wendy Widman, tax partners Gary Friedman and Peter Furci and associates Ben Lee Friedman and Cameron Rotblat, intellectual property partner Henry Lebowitz and associates Melody Godbolt, Emily MacKay, Tigist Kassahun and Roy Sengupta, antitrust associate Laurah Samuels, and litigation partners Susan Gittes and Maeve O’Connor and associates Jaime Fried and Matthew Sorensen.