AT&T shares in 401k, what will happen when the spinoff occurs?

First off, most agree we shouldn't be holding T in our 401k's.

With that out of the way, for those that do have some T in their 401k, what will happen to those shares once the spinoff happens? Per the article below, owners of T shares will receive 71% of the new company (Warner Bros. Discovery).
Since we can't own individual stocks in the 401k, what will happen? convert to T shares or add the new company to the 401k? This seems like a problem since all the upside will likely be in the new WBD stock!

Reference; https://www.reuters.com/business/media-telecom/att-spin-off-warnermedia-43-billion-discovery-media-merger-2022-02-01/

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So employees have paid for the spinoff and stock holders will reap any rewards? Att stock was at $30ish before purchasing twc and dtv. Now is at $20

My Fidelity 401 with AT&T shares has yet to show any WBD shares?

Stankey's release: As an AT&T employee, the AT&T Shares Fund in AT&T 401(k) plans will also receive an estimated 0.24 shares of the new WBD common stock for each AT&T share of common stock held by the fund. You will receive additional information regarding the impact of the transaction on your units in the AT&T Shares Fund as we approach deal close.

You can own individual stocks in your 401k if you open up a brokerage account with Fidelity in your 401k.

Stankey's release said they will be converted

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AT&T shares in 401k, what will happen when the spinoff occurs?

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