1. Stock Futures Fall After Wall Street s Rough Week
Stock futures traded lower Monday as Wall Street came off a rough week driven by concerns over what effect rising inflation would have on the U.S. recovery.
Contracts linked to the Dow Jones Industrial Average fell 143 points, S&P 500 futures were down 15 points and Nasdaq futures declined 55 points.
Stocks closed higher Friday but posted losses for the week as inflation fears had Wall Street worried the Federal Reserve could boost near-zero interest rates and begin tapering asset purchases earlier that it has signaled.
The Dow fell 1.1% last week, the S&P 500 declined 1.4% and the Nasdaq dropped 2.3%.
Monday, May 17, 2021 9:30 am
AT&T, Discovery join media brands as cord-cutting encroaches
Associated Press
NEW YORK – AT&T will combine its massive media operations that include CNN, HBO, TNT and TBS in a $43 billion deal with Discovery, the owner of lifestyle networks including the Food Network and HGTV.
It is a major directional shift for AT&T which squared off with the Justice Department less than three years ago in an antitrust fight when it wanted to acquire Time Warner Inc. for more than $80 billion. That was a fight that AT&T won.
It s not immediately clear what the new company would mean for customers, but it likely allow the bundling of streaming services. For example, Disney offers its viewers Disney+, Hulu and ESPN.
The Straits Times
AT&T to merge media assets with Discovery in US$43 billion deal
The plan will combine Discovery s reality-TV empire with AT&T s vast media holdings, which include CNN and HBO.PHOTOS: REUTERS, NYTIMES
Published5 hours ago
https://str.sg/JvP8
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AT&T signs deal to combine massive media operations with Discovery
Published
NEW YORK - AT&T will combine its massive media operations that include CNN, HBO, TNT and TBS in a $43 billion deal with Discovery, the owner of lifestyle networks including the Food Network and HGTV.
It is a major directional shift for AT&T which squared off with the Justice Department less than three years ago in an antitrust fight when it wanted to acquire Time Warner Inc. That was a fight that AT&T won.
However, a multitude of streaming services continue to encroach on traditional broadcast media companies which have sought strength through mergers. They are also pursuing new avenues into streaming entertainment.
AT&T, Discovery join media brands as cord-cutting encroaches
The Associated PressMay 17, 2021 GMT
FILE - In this Oct. 21, 2014 file photo, people pass an AT&T store in New York s Times Square. AT&T will combine its media operations that include CNN HBO, TNT and TBS in a $43 billion deal with Discovery, the owner of lifestyle networks including the Food Network and HGTV. The deal announced Monday, May 17, 2021, would create a separate media company as households increasingly abandon cable and satellite TV, looking instead at Netflix, Amazon Prime Video, Facebook, TikTok and YouTube. (AP Photo/Richard Drew, File)
FILE - In this Oct. 21, 2014 file photo, people pass an AT&T store in New York s Times Square. AT&T will combine its media operations that include CNN HBO, TNT and TBS in a $43 billion deal with Discovery, the owner of lifestyle networks including the Food Network and HGTV. The deal announced Monday, May 17, 2021, would create a separate media company as households increa