AT&T and Discovery are in talks that would combine AT&T’s media business with Discovery’s reality-TV dynasty to create a massive new entertainment entity, Bloomberg reports, citing sources. Neither company confirmed the deal, but if it came to pass, the combined company would be a potentially significant competitor for streaming brands like Netflix and Disney.
But as Bloomberg notes, AT&T only recently added some major entertainment brands to its portfolio when it acquired Time Warner for $85 billion, a deal that was finalized in 2018. And while AT&T’s streaming channel HBO Max has performed relatively well since its somewhat messy launch last May, it’s still not quite as robust as older streamers like Netflix. In January, Discovery…
