Lively and in-depth discussions of city news, politics, science, entertainment, the arts, and more.
Hosted by Larry Mantle
Airs Weekdays 10 am - 12 pm

AT&T Teams Up With Discovery+ In $43 Billion Merger




President and CEO, Discovery David Zaslav speaks onstage during the Discovery, Inc.'s Summer 2019 TCA Tour at The Beverly Hilton Hotel on July 25, 2019 in Beverly Hills, California.
President and CEO, Discovery David Zaslav speaks onstage during the Discovery, Inc.'s Summer 2019 TCA Tour at The Beverly Hilton Hotel on July 25, 2019 in Beverly Hills, California.
Amanda Edwards/Getty Images for Discovery

Listen to story

12:56
Download this story 12MB

AT&T will join its media operations with those run by Discovery to create a new company in a $43 billion deal that run its CNN, HBO, TNT and TBS with channels like the Food Network and HGTV. With the agreement Monday, AT&T is easing back from a yearslong push into a streaming entertainment sector where big players are slugging it out with increasingly large war chests dedicated to premium and original content.

The newly formed and publicly traded company will enter a streaming arena that has been flooded in the past two years with new players including those owned by AT&T and Discovery, which operate HBO Max and Discovery+, respectively. 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 to expand into entertainment that AT&T won. It’s not immediately clear what the new company would mean for customers, but it will likely allow the bundling of streaming services. For example, Disney offers its viewers Disney+, Hulu and ESPN. A standalone streaming service for CNN is also a possibility. The combined media company will still be outsized by rival streaming services.

With files from the Associated Press

Guest: 

John Horn, KPCC arts and entertainment host; he tweets @JGHorn