AT&T and Discovery to form new global streaming offering

May 18, 2021 10:05

US telco AT&T’s WarnerMedia is merging with Discovery’s nonfiction and international entertainment and sports businesses to create a premier, standalone global entertainment company, to rival Amazon Prime, Disney+ and Netflix.

The companies expect the transaction will create substantial value for AT&T and Discovery by “bringing together the strongest leadership teams, content creators, and high-quality series and film libraries in the media business”.

It will also accelerate respective plans for direct-to-consumer streaming services to compete in the fast-growing sector, featuring content from HBO Max and the recently launched Discovery+.

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Olivia Kruimel

Olivia Kruimel was the managing editor at Mumbrella. She has more than 15 years of experience in journalism, communications and marketing. Her journalism career began at Fairfax Media (now part of Nine) and includes various B2B publications such as B&T, Travel Today and ALB. As a marketer Olivia has worked for Standard Chartered and various global law firms.