AT&T, Discovery join media brands as cord-cutting encroaches

NEW YORK (AP) — AT&T will join its massive media operations that include CNN, HBO, TNT and TBS in a $43 billion deal with Discovery, the owner of lifestyle networks including the Food Network and HGTV. The new media company enters a streaming arena that has been flooded in the past two years with new players including those owned by AT&T and Discovery which operate HBO Max and Discovery+, respectively. Industry analysts believe the deal Monday is a signal that more mergers are ahead. One prominent analyst had been saying that Comcast’s NBCUniversal should merge with WarnerMedia, for example.