AT&T in Talks With Discovery to Spin Off WarnerMedia Entertainment Assets

AT&T in Talks With Discovery to Spin Off WarnerMedia Entertainment Assets
AT&T is in advanced talks to spin off its WarnerMedia entertainment assets and merge them with Discovery Inc. in a move that could alter the ongoing competition between streaming services, Bloomberg reported on Sunday.

According to Bloomberg, the companies are in talks to bring their vast entertainment portfolios together. AT&T’s WarnerMedia includes networks like HBO, CNN, TNT, TBS and the HBO Max streaming service, while Discovery brings its own streaming service, Discovery+, along with networks like HGTV, Discovery Channel, Animal Planet, Food Network and TLC.

It is unclear how large the scope of the potential merger would be or if it would impact the two fledgling streamers. The rise of multiple streaming services has led to bundle offers like Disney’s package of Disney+, Hulu and ESPN+ while others have merged entirely, as the WWE Network shut down in the U.S. last month and moved its live
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