AT&T, Discovery in talks to combine content assets – Bloomberg News – Reuters

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The company logo for AT&T is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., September 18, 2019. REUTERS/Brendan McDermid

Wireless carrier AT&T Inc (T.N) is in talks to combine content assets with Discovery Inc (DISCA.O), Bloomberg reported on Sunday, citing people with knowledge of the matter.

The proposed deal could create an entertainment giant to better compete with Netflix Inc (NFLX.O) and Walt Disney Co (DIS.N), the report added.

Both AT&T and Discovery declined to comment.

AT&T is already home to some popular brands in the entertainment business like HBO, HBO Max, CNN and many more through its WarnerMedia division.

HBO and HBO Max now have 63.9 million global subscribers, compared with over 100 million for Walt Disney Co’s Disney+ and 207.6 million for Netflix. read more

Discovery, whose portfolio includes Animal Planet, HGTV and the Discovery Channel, reaches 88.3 million homes in the United States.

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