On Monday morning AT&T (T) and Discovery, Inc. (DISCA)announced a deal under which AT&T’s WarnerMedia will be spun off and combined with Discovery in a new standalone media company.
The deal, subject to regulatory approval, will combine two treasure troves of content, including the HBO Max and discovery+ streaming services. CNN will be included in the transaction.
Discovery CEO David Zaslav will run the combined business, according to Monday’s announcement.
“I think we fit together like a glove,” Zaslav said at a virtual press conference.
On one level, the tie-up is a logical way to better…
