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17 May 2021 • 4 min read
AT&T is nearing a deal to combine its content unit WarnerMedia with rival Discovery to create a media giant with an enterprise value of $150bn, a few years after acquiring the owner of CNN, HBO and Warner Bros, said people briefed about the matter.
The board of directors of AT&T were meeting on Sunday to approve the deal, said two people with direct knowledge of the matter. The agreed deal is expected to be announced in the coming days.
The combined unit would merge one of Hollywood’s most valuable catalogues with Discovery, which has had success with a streaming service focused on unscripted cooking and home renovation shows.