According to the American press on Sunday, AT&T could announce Monday the merger of its subsidiary WarnerMedia, owner of CNN and HBO, with the media group Discovery.
The transaction could create a giant able to compete with Netflix and Disney +.
The American telecommunications giant AT&T could announce Monday the merger of its subsidiary WarnerMedia, owner of CNN and HBO, with the media group Discovery, which owns among others the Eurosport channel, according to the American press on Sunday.
The new entity is expected to be owned by AT&T and Discovery, according to this information, but no details have been released.
Compete with Netflix and Disney +
The transaction could create a giant able to compete with Netflix and Disney +, which have seen their number of subscribers jump with confinement.
The slowdown in the growth of the Disney empire's streaming platform between January and March, however, worried investors and caused the group's share to plunge last week.
AT&T bought Time Warner in 2018 for $ 80 billion, then renamed WarnerMedia, which owns HBO, Warner Bros. studios and cable channels like CNN. Discovery has channels in 220 countries, according to its website. WarnerMedia had net sales of $ 30.4 billion in 2020, and Discovery of $ 10.7 billion.