AT&T and Discovery Are Reportedly in Talks About Merging Media Assets

Ronald Martinez/Getty Images

There’s some big news of another potential media merger, this time between AT&T and Discovery.

Bloomberg broke news Sunday morning that AT&T has been talking with Discovery about potentially “spin[ning] off its media business” and merging.

AT&T’s media assets include Warner Bros, CNN, HBO, etc., while Discovery’s includes networks like Discovery Channel, Animal Planet, and TLC.

CNN’s Brian Stelter reported the same Sunday afternoon and said “if there are no last-minute snags, the deal could be announced as soon as Monday.”

Right now WarnerMedia and Discovery have separate streaming services — HBO Max and Discovery+ — both launching within the past year.

“The Discovery deal,” Bloomberg reports, “could give the combined company enough programming to compete with Netflix and other streaming services in a global battle over the future of entertainment.”