WarnerMedia And Discovery To Merge, Forming Media Giant: Statement

US telecommunications giant AT&T announced Monday a merger between its WarnerMedia unit -- which owns CNN and HBO -- and Discovery media, creating a streaming giant that could compete with Netflix and Disney+

New York, (APP - UrduPoint / Pakistan Point News - 17th May, 2021 ) :US telecommunications giant AT&T announced Monday a merger between its WarnerMedia unit -- which owns CNN and HBO -- and Discovery media, creating a streaming giant that could compete with Netflix and Disney+.

The deal will "combine WarnerMedia's premium entertainment, sports and news assets with Discovery's leading nonfiction and international entertainment and sports businesses to create a premier, standalone global entertainment company," a statement from the companies said.