May 17, 2021
ATT combines WarnerMedia with Discovery
AT&T announced plans to spin off its WarnerMedia division and combine it with Discovery. The combined entity will be majority-owned by AT&T and is projected to generate $52B of revenue and $14B of pre-tax profit by 2023. The transaction marks a reversal for AT&T, which acquired Time Warner in 2018 as part of a broader effort to build assets and content in the media segment.