The announcement of the megamerger between Discovery Communications and WarnerMedia on Monday underscored several things: that AT&T, which spent $85 billion just three years ago to acquire TimeWarner in an attempt to seamlessly marry entertainment and mobile communications had arrived at the conclusion that that effort was anything but seamless, and was now spinning off its entertainment assets. (Offloading some of AT&T’s $160 billion debt was also a motivating factor.) Consolidation in Hollywood is the way forward. (Unless regulators block tie-ups like this.) And the future, more than ever before, is all about streaming. As the companies stated in a press release on Monday, a crucial reason for the marriage is to become “a stronger competitor in global streaming.”
Key to the latter strategy is turning HBO Max into a superpower on the level of Netflix and Disney Plus. The former, of course, is the streaming original that now has over 200 million subscribers and is plowing $17…
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Source : fastcompany.com
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