By: Chris Murphy
The streaming world just got a big shake-up. On Monday, telecommunications giant AT&T announced that it would be spinning off WarnerMedia and combining it with cable-programming company Discovery in a brand-new venture. The decision to spin off WarnerMedia—which includes HBO, HBO Max, Warner Bros., CNN, and several other cable networks—comes three years after AT&T acquired Time Warner for $85 billion, in the hopes of becoming a colossal media empire.
Even before the acquisition, industry experts wondered whether AT&T’s decision to purchase Time Warner was a smart one, especially considering the fact that cord-cutting and streaming services were only growing in popularity. The spin-off suggests the acquisition was ultimately a bust for the wireless provider…read more.
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