It’s official, another streaming powerhouse will be coming to a TV near you.
AT&T’s Warner Media and Discovery announces a merger.
AT&T, the cell phone provider that 3 years ago diversified from primarily servicing fiber lines and cell towers into the media business with the acquisition of Time Warner has agreed to a spin-off. Just announced (5/17) AT&T will merge its Warner Media group with Discovery. The new company will be bigger than Netflix or NBCUniversal. Industry experts did not seem bullish of the AT&T $85 billion purchase of Time Warner at the time and it only took 3 years to likely prove them correct. The spinoff likely indicates a failed acquisition strategy by AT&T. AT&T loss is likely a CTV | Streaming gain.
The merger will combine assets from networks like CNN, TBS, TNT, HGTV, Food Network, Discovery Channel, and Warner Bros. film studio, HBO Max and Discovery+…
The new company will offer a combination of news and sports on top of its entertainment properties like “Game of Thrones” and Harry Potter.
Oh yeah, one more thing. This content will be Streamed and it will be ad-supported.
Full articles below.