The New York Times
BREAKING NEWS
The wireless carrier AT&T will spin off its WarnerMedia group and merge it with the rival programmer Discovery, creating a streaming giant.
Monday, May 17, 2021 7:28 AM EST
AT&T, the wireless carrier that thundered its way into the media business three years ago with grand visions of streaming video on millions of its customers’ cellphones, has agreed to spin off its WarnerMedia group and merge it with its rival programmer Discovery Inc., the companies announced Monday.
The transaction will combine HBO, Warner Bros. studios, CNN and several other cable networks with a host of reality-based cable channels from Discovery, including Oprah Winfrey’s OWN, HGTV, The Food Network and Animal Planet.
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