AT&T and Discovery are in talks that will combine AT&T media business and Discovery reality television to create a massive new entertainment entity, according to Bloomberg reports, citing sources.
The Los Angeles Times confirmed the story, noting that many executives at Warner Media were stunned by the news. Neither company has confirmed the deal, but if it passes, the combined company would be a potentially important competitor to broadcast brands like Netflix and Disney, according to the verge.
According to Bloomberg, AT&T recently added some major entertainment brands to its portfolio only when it acquired Time Warner for $ 85 billion, a deal that was completed in 2018.
In January Discovery launched its Discovery Plus streaming platform, which launched with shows separate from the Discovery Channel catalog, including a new House Hunters series and a new series from creators in Fixer Upper.