(CNBC) Telecom giant AT&T announced Monday a deal to combine its content unit WarnerMedia with Discovery, creating Hollywood’s biggest studios to compete with media giants Netflix and Disney. AT&T will unwind its $85 billion acquisition of Time Warner, and form a new media company with Discovery. The deal could be valued at as much as $150 billion.
AT&T announces $43 billion deal to merge WarnerMedia with Discovery
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