{"id":125247,"date":"2021-05-16T18:59:28","date_gmt":"2021-05-16T18:59:28","guid":{"rendered":"https:\/\/precoinnews.com\/?p=125247"},"modified":"2021-05-16T18:59:28","modified_gmt":"2021-05-16T18:59:28","slug":"discovery-ceo-discovery-has-a-library-as-big-as-netflixs","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/politics\/discovery-ceo-discovery-has-a-library-as-big-as-netflixs\/","title":{"rendered":"Discovery CEO: Discovery+ has a library as big as Netflix&#39;s"},"content":{"rendered":"<p><cite>New York (CNN Business)<\/cite><span>AT&amp;T<\/span> <span>(<span>T<\/span>)<\/span> is in advanced talks with <span>Discovery Communications<\/span> <span>(<span>DISCA<\/span>)<\/span> about a deal that would combine two treasure troves of content in the streaming age.<\/p>\n<p>AT&amp;T&#8217;s WarnerMedia division, which includes CNN, would be paired with Discovery under a proposal that is being discussed behind closed doors this weekend, a source familiar with the matter said, confirming news first reported Sunday morning by Bloomberg.<br \/>\nIf there are no last-minute snags, the deal could be announced as soon as Monday.<\/p>\n<ul><\/ul>\n<p>The mechanics and financial terms of the deal could not immediately be gleaned. Bloomberg said &#8220;the companies are still negotiating the structure of a transaction.&#8221;<\/p>\n<ul><\/ul>\n<p>As is the norm during such negotiations, neither company had a comment about the reports on Sunday.<\/p>\n<p>Prominent Wall Street analysts have been predicting, and in some cases encouraging, AT&amp;T to spin or sell off WarnerMedia and focus on its wireless businesses. That would be an abrupt change for a company that only completed its acquisition of WarnerMedia three years ago.<br \/>\nWarnerMedia, known then as Time Warner, contained valuable assets like CNN, HBO, TNT, TBS, and the Warner Bros studio. Under AT&amp;T, WarnerMedia has focused on the growth of its streaming service HBO Max, combining existing programming from HBO with new content from other parts of the media empire.<br \/>\nDiscovery has also prioritized its own streaming platform, called discovery+, with nonfiction fare from Animal Planet, TLC, and the other channels it owns.<br \/>\nIf the two media companies join forces, they may be better equipped to compete with the likes of <span>Netflix<\/span> <span>(<span>NFLX<\/span>)<\/span> and <span>Disney<\/span> <span>(<span>DIS<\/span>)<\/span>.<br \/>\nDiscovery CEO David Zaslav alluded to this very possibility in an interview with CNBC last December.<br \/>\n&#8220;Within the next two years, it&#8217;s going to be put up or shut up for all of us,&#8221; he said. &#8220;Can you show you&#8217;re scaling? Are you going to be a player in the U.S.? Are you going to be a player around the world?&#8221;<br \/>\nHe predicted consolidation: &#8220;I think ultimately a lot of those companies are going to realize, &#8216;I don&#8217;t have enough.&#8217; And then they&#8217;re going to say, &#8216;Who can we merge with or who can we do a deal with? And if we put together our IP, maybe we can compete with Disney.'&#8221;<br \/>\nIn the interview, Zaslav also complimented AT&amp;T CEO John Stankey and WarnerMedia CEO Jason Kilar, saying &#8220;they&#8217;re super smart guys&#8221; and &#8220;they&#8217;ve got a lot of great assets there.&#8221;<\/p>\n<ul><\/ul>\n<p>For the time being, the Warner-Discovery talks have resulted in more questions than answers: Could other bidders come into play? Who would run the combined content powerhouse? Would CNN remain in the mix with the entertainment brands, or could it be sold?<br \/>\nThe people who know aren&#8217;t ready to say quite yet.<br \/>\nSource: <a href=\"https:\/\/edition.cnn.com\/2021\/05\/16\/media\/att-discovery-warnermedia\/index.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (CNN Business)AT&amp;T (T) is in<\/p>\n","protected":false},"author":3,"featured_media":125246,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23055],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Discovery CEO: Discovery+ has a library as big as Netflix&#039;s - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/politics\/discovery-ceo-discovery-has-a-library-as-big-as-netflixs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Discovery CEO: Discovery+ has a library as big as Netflix&#039;s - 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