AT&T and Discovery announced a $43 billion merger that would create one of the largest U.S. media companies in an attempt to compete with Netflix and Disney.
The deal would merge AT&T’s media content division WarnerMedia with Discovery, creating a standalone media company that executives hope will become one of the world’s top streaming services, according to the announcement Monday morning. CNN, HBO, Warner Bros. Pictures, DC Comics, HGTV, Food Network, TLC and Animal Planet would all merge under the deal.
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