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May 18, 2021
Since AT&T bought Time Warner in 2018 to compete with Netflix and Disney, the world of streaming video has only gotten more cutthroat.
The telecom giant’s deal with Discovery Inc., announced Monday, marks the latest shift in the remaking of the media industry and the potential beginning of another round of consolidation. An earlier wave three years ago resulted in media mogul Rupert Murdoch leaving Hollywood and Viacom and CBS recombining.
The deal combining Discovery with AT&T Inc.’s WarnerMedia underscores the value of scale in today’s media landscape, where industry leaders Netflix Inc. and Walt Disney Co. are looking outside the United States for growth.