AT&T is reportedly in talks to merge its media business with Discovery

AT&T is reportedly in talks to merge its media business with Discovery

AT&T is reportedly in talks to merge its media business with Discovery

AT&T and Discovery are in talks that will mix AT&T’s media business with Discovery’s reality-TV dynasty to create an enormous new leisure entity, Bloomberg reviews, citing sources. Neither firm confirmed the deal, but when it got here to move, the mixed firm could be a probably important competitor for streaming manufacturers like Netflix and Disney.

However as Bloomberg notes, AT&T solely not too long ago added some main leisure manufacturers to its portfolio when it acquired Time Warner for $85 billion, a deal that was finalized in 2018. And whereas AT&T’s streaming channel HBO Max has carried out comparatively effectively since its considerably messy launch final Might, it’s nonetheless not fairly as sturdy as older streamers like Netflix. In January, Discovery launched its personal streaming platform Discovery Plus, which launched with reveals spun off from its Discovery Channel catalog, together with a brand new Home Hunters collection and new collection from the creators of Fixer Higher.

AT&T’s WarnerMedia unit owns cable channels CNN, HBO, Cartoon Community, TBS, TNT, and the Warner Bros. film studio. Discovery’s choices embrace cable networks HGTV, Meals Community, and TLC. However as extra individuals migrate away from conventional cable TV and to streaming choices, most media firms are attempting to discover new methods to attain audiences.

Bloomberg’s sources indicated a deal could possibly be introduced as early as this week.

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