AT&T has agreed to come out and join WarnerMedia and its partner Discovery in a multi-billion dollar deal to form a media empire with a program against Disney and Netflix worldwide runners.
The deal comes three years after AT&T paid $ 85.4bn to the owners of CNN, HBO and Warner Bros. and showed a change of heart for US media groups. trying to regain strength such as promotional activities.
Under the hood, one of Hollywood’s most popular offices – including Warner Bros studios and television stations, the HBO network and a cable network with CNN – is integrated into Discovery’s “real life”, whose brands vary from game to game and wildlife. house.
David Zaslav, Discovery’s senior manager, will lead the joint venture, which will be 71% of AT&T. Jason Kilar, chief executive who brought in last year to speed up WarnerMedia’s transformation in broadcasting with HBO Max, was not mentioned in the merger
The conference represents the humble return of AT&T, which made America’s largest credit card company to become the world’s largest retail and distribution company. “This should put an end to the negotiations between the division and distribution,” said Jonathan Chaplin, a researcher at New Street Research, who described the agreement as “complete”.
Experiments are the latest in a series of unbiased ideas of John Stankey, who took over as chief executive last year, to unlock the growing legacy of his successors and get the company back on its big business.
This included selling a 30% stake in DirecTV on the TPG financial group this year. The union paid for the sick television business at $ 16.25bn, about a third of Stankey’s six-year-old investment.
The result of this alliance is the rush among the world’s top equipment companies to take over Netflix and have a share of entertainment in the future. In just the last 18 months, Disney, Apple, WarnerMedia, Comcast, Discovery and others have launched a global search strategy.
In a statement announcing the agreement, Jason Bazinet, a researcher in Citi, said he could consider “many more potential signings” to get Discovery or to form a competing affiliate with WarnerMedia. “We cannot prevent Comcast, Disney or ViacomCBS from participating,” he wrote.
AT&T and Discovery included a down payment on the conference, agreeing to pay $ 720m or $ 1.8bn respectively if the deal was fulfilled.
Discovery and WarnerMedia have generated a combined $ 41bn revenue by 2020, which compares with Disney’s $ 65bn exit, the largest group in the world.
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