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.
That was a fight that AT&T won.However, a multitude of streaming services continue to encroach on traditional broadcast media companies which have sought strength through mergers.