US telecoms giant AT&T has agreed to combine its WarnerMedia business with Discovery in a deal to create a new streaming giant. … AT&T owns CNN, HBO and Warner Bros, after acquiring many brands in a $108.7bn (£77.1bn) purchase of Time Warner in 2018.
Furthermore, Will AT&T still own WarnerMedia?
AT&T announced on May 17th that it would spin off its WarnerMedia business to merge it with TV company Discovery. … AT&T acquired WarnerMedia (which was known as TimeWarner at the time) in 2016 for $85.4 billion. The deal was approved in 2018.
Secondly, Why did Time Warner sell to AT&T?
When AT&T first announced the deal to acquire Time Warner in 2016, then AT&T CEO Randall Stephenson called the two companies “a perfect match.” AT&T argued that the deal would be a win for consumers because it would help drive down the cost of content.
In this regard, What companies does AT&T own 2020?
Here’s everything AT&T now owns, apart from your soul
- HBO. Arguably the biggest single name AT&T just acquired. …
- TBS. Cable channel owned by Turner, and it turn (heh) by AT&T. …
- CNN. …
- Turner. …
- DC Entertainment. …
- Warner Bros. …
- New Line Cinema. …
- The rest of AT&T.
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