Big Law
AT&T Will Merge CNN, HBO, TNT, TBS, and Discovery Networks to Create a New Streaming Service
AT&T will combine its massive media operations that include CNN, HBO, TNT and TBS in a $43 billion deal with Discovery, the owner of lifestyle networks including the Food Network and HGTV.
It is a major directional shift for AT&T which squared off with the Justice Department less than three years ago in an antitrust fight when it wanted to acquire Time Warner Inc. for more than $80 billion. That was a fight that AT&T won.
It’s not immediately clear what the new company would mean for customers, but it likely allow the bundling of streaming services. For example, Disney offers its viewers Disney+, Hulu and ESPN.
