By Jason Hall
May 17, 2021
AT&T announced a deal to combine its content unit WarnerMedia with Discovery in an effort to compete with other major streaming services on Monday (May 17).
CNBC reports AT&T will create a new business merging Time Warner -- which was acquired for $85 billion just under three years ago -- with Discovery, creating a new business separate from AT&T that could possibly be valued at as much as $150 billion, including debt, according to
AT&T said it would receive an aggregate amount of $43 billion in a combination of cash, debt and WarnerMedia's retention of certain debt as part of the agreement announced on Monday.