AT&T agrees deal to combine WarnerMedia with Discovery
by Mark Sweney from on (#5HX9M)
New company aims to compete with world's largest streamers' such as Netflix and Disney+
The parent company of CNN, HBO and the Hollywood studio behind the Batman and Harry Potter franchises has struck a deal with Discovery to create a new global media superpower to take on streaming services Netflix and Disney+.
The US telecoms company AT&T, which acquired the media assets in an $85bn takeover of Time Warner three years ago, has agreed a spin-off of its media content division, now known as WarnerMedia, into a separate business in combination with Discovery.
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