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Reading: AT&T Brings Together HBO Max And Discovery+ In Streaming Shakeup
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B&T > Media > AT&T Brings Together HBO Max And Discovery+ In Streaming Shakeup
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AT&T Brings Together HBO Max And Discovery+ In Streaming Shakeup

Staff Writers
Published on: 18th May 2021 at 11:11 AM
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US telco AT&T has spun off its WarnerMedia business and merged it with Discovery in a new deal worth around $US43 billion.

The merger will see the coming together of Warner’s film division, HBO Max and the Discovery+ streaming service.

Under the terms of the deal, AT&T will receive the $US43 billion in cash, debt and debt retention and will own 71 per cent of the new company.

The combination of these media assets will put the new company in a better position to compete with the likes of Netflix and Disney+.

“This agreement unites two entertainment leaders with complementary content strengths and positions the new company to be one of the leading global direct-to-consumer streaming platforms,” John Stankey, CEO of AT&T, said in a statement.

The new company will also be investing more into original content for its streaming services, according to the release.

This will include creating new opportunities for “under-represented storytellers and independent creators”.

AT&T purchased WarnerMedia as part of its $109 billion Time Warner acquisition in 2018.

Neither discovery+ or HBO Max are currently available in the Australian market, however, a large portion of the content from both services is available on Foxtel.

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Staff Writers
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Staff Writers represent B&T's team of award-winning reporters. Here, you'll find articles crafted with industry experience spanning over 50 years. Our team of specialists brings together a wealth of knowledge and a commitment to delivering insightful, topical, and breaking news. With a deep understanding of advertising and media, our Staff Writers are dedicated to providing industry-leading analysis and reporting, both shaping the conversation and setting the benchmark for excellence.

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