AT&T is getting out of the media business: The telecom giant has announced its intent to spin off WarnerMedia, which includes brands such as HBO and CNN, and merge it with rival company Discovery, Inc.
The deal, which was announced Monday and first reported by Bloomberg on Sunday, would make the combined (and still unnamed) company one of the largest media entities in the entertainment and journalism industries. WarnerMedia’s assets include TBS, TNT, Cartoon Network, the Warner Bros. film and TV studios, the HBO Max streaming service, and the aforementioned HBO and CNN. Discovery owns several of the top primetime cable networks, including HGTV, TLC, the Discovery Channel, and Food Network, and launched its Discovery+ streaming service in the United States earlier in the year. The deal is subject to regulatory approval and affirmative votes from Discovery’s shareholders and is anticipated to close in mid-2022.
For AT&T,...
The deal, which was announced Monday and first reported by Bloomberg on Sunday, would make the combined (and still unnamed) company one of the largest media entities in the entertainment and journalism industries. WarnerMedia’s assets include TBS, TNT, Cartoon Network, the Warner Bros. film and TV studios, the HBO Max streaming service, and the aforementioned HBO and CNN. Discovery owns several of the top primetime cable networks, including HGTV, TLC, the Discovery Channel, and Food Network, and launched its Discovery+ streaming service in the United States earlier in the year. The deal is subject to regulatory approval and affirmative votes from Discovery’s shareholders and is anticipated to close in mid-2022.
For AT&T,...
- 5/17/2021
- by Tyler Hersko
- Indiewire
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