AT&T Sells Warner Bros. And HBO To Discovery
In 2018, AT&T bought Time Warner and then rebranded it as WarnerMedia. It would see such results as the creation of the streaming service HBO Max, which some subscribers agree has become a formidable rival to other streaming giants like Netflix and Disney+. Since the purchase, there have been various obstacles along the way, especially during the COVID-19 pandemic, but now there is a new development. AT&T now has its sights set on merging Warner Bros., HBO, and other WarnerMedia entertainment assets with Discovery Inc. This, of course, is the company whose channels include the Discovery Channel, the Food Network, the Oprah Winfrey Network, and TLC. Discovery’s CEO David Zaslav would be in charge of the resulting company.
This deal could have very significant results. The company made from this merger would be bigger than both NBCUniversal and Netflix in size. That is a huge deal, given the assets and popular programs that these companies have. The main focus of the new company would be on streaming services Discovery+ and HBO Max, as well as their various established cable channels. This would be very beneficial to Discovery. Only time will tell what more could come about thanks to this merger.
Source(s): CBR