AT&T to combine with Discovery for new media conglomerate

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Tele­com com­pa­ny AT&T has reached a deal to spin off its media busi­ness and merge it with media net­work Dis­cov­ery to form a new big play­er in the online stream­ing busi­ness. The merg­er is a way to bet­ter com­pete with Dis­ney and Net­flix, the top two stream­ing com­pa­nies, but is also a com­pli­cat­ed way for AT&T to unwind its huge 2018 acqui­si­tion of media con­glom­er­ate Time Warner.
The new com­pa­ny, which is …

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