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AT&T, Discovery join media brands as cord-cutting encroaches
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NEW YORK – 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. A standalone streaming service for CNN is also a possibility.
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