Oprah and CNN: AT&T is merging media business with Discovery

Warner Att DiscoveryNEW YORK (AP) — U.S. telecom giant AT&T Inc. is combining its WarnerMedia operations with Discovery Inc.

The deal will marry the likes of HBO and CNN with HGTV and Oprah Winfrey.

And it’s another illustration of the head-spinning speed in which streaming has transformed the media world.

The $43 billion agreement was announced Monday after AT&T CEO John Stankey and his Discovery counterpart, David Zaslav, worked out the details in Zaslav’s Manhattan brownstone over the past two months.

The hope for the newly merged company is that with a wider array of material than either can offer on its own, it can join Netflix, Amazon and Disney among top streamers.

Categories: National News