AT&T, owner of HBO and Warner Bros studios, and Discovery, home to lifestyle TV networks such as HGTV and TLC, said on Monday they will combine their content assets to create a standalone global entertainment and media business.
The streaming video industry got even more cutthroat, Monday… when U.S. telecoms giant AT&T - owner of HBO and Warner Bros studios - announced it would spin off its massive media empire to combine with the Discovery network, creating a standalone global streaming giant.
Discovery President and CEO David Zaslav will lead the proposed new company, which will merge the likes of HBO, CNN and Warner Bros.
Studios - including the Harry Potter and Batman franchises - with Discovery's trove of unscripted shows.
The name of this new company will be disclosed by next week.
It will be 71% owned by AT&T's shareholders and 29% by Discovery’s.
The deal marks the unwinding of AT&T’s $108.7 billion acquisition of U.S. media conglomerate Time Warner in 2018, where AT&T sought to create a media and telecoms powerhouse… and underscores At&t’s recognition that TV viewership has moved to streaming, where scale is required to take on the likes of Netflix and Walt Disney.
It was a costly strategy for AT&T, which - at the same time - sought to expand next generation wireless services.
Now AT&T says it will use the $43 billion proceeds from the tax-free spin-off of its media assets to pay down its more than $160 billion of debt.
AT&T Confirms Data Breach , Affected 73 Million Customers.
73 million current and former
AT&T customers have had their sensitive
data compromised in a hack that some outlets
say dates back to 2021, Gizmodo reports.
The data, which includes social security numbers, email addresses, birthdates, phone numbers and AT&T account information, .
was located two weeks ago in a data
set released on the dark web.
It's not clear if it was AT&T's systems that were breached or if the information was stolen from one of the company's vendors.
Currently, AT&T does not have evidence
of unauthorized access to its systems
resulting in exfiltration of the data set, AT&T, via statement.
The company is communicating
proactively with those impacted and
will be offering credit monitoring at
our expense where applicable, AT&T, via statement.
As a precaution, AT&T has reset the
passcodes of its current customers. .
The company will be reaching out to customers whose information has been compromised. .
AT&T advises those who are worried about their accounts to monitor activity and credit reports.
Credit: Wibbitz Top Stories Duration: 01:30Published
'Curb Your Enthusiasm' has captured the attention of Georgia's Secretary of State. The season premiere of the final season of the HBO comedy featured Larry David being arrested for violating Georgia's election integrity law for giving his friend Leon Black's aunt a bottle of water while she waited in line to vote on a hot day in Atlanta. He's now facing a looming trial on the series. The storyline must have made its way to the state capitol, because last month Georgia's Secretary of State, Brad Raffensperger, sent a letter to David addressing the plotline about the 2021 voting law.
Credit: The Hollywood Reporter Duration: 01:52Published
Filming for 'Euphoria' season three has been put on hold. The Sam Levinson drama was expected to start production soon on its long-awaited new season, but production has hit pause on those plans. The timeline on production has now been pushed back to give Levinson more time to work on the dark teen drama's scripts. In addition, the show's cast — which stars Zendaya and an all-star cast including Sydney Sweeney and Jacob Elordi — is being allowed to pursue other opportunities.
Credit: The Hollywood Reporter Duration: 01:25Published
John Oliver is the latest to mock Nancy Pelosi for her widely ridiculed TikTok pun. On HBO's 'Last Week Tonight,' the host brought up how the U.S. House of Representatives passed a bill that would lead to a ban on TikTok if its China-based owner doesn't sell its stake. The bill passed on concerns that the app poses a national security threat under the ownership of Chinese technology firm ByteDance Ltd.
Credit: The Hollywood Reporter Duration: 01:18Published
It's official: Peter Jackson is working on new 'Lord of the Rings' films for Warner Bros. The news was revealed during Warner Bros. Discovery's first-quarter earnings conference call. CEO David Zaslav said that the company is "now in the early stages of script development" for new 'Lord of the Rings' movies, which he says they "anticipate releasing in 2026" and will "explore storylines yet to be told."
Credit: The Hollywood Reporter Duration: 01:34Published
Get ready to return to Middle-earth this summer. 'The Lord of the Rings' trilogy is headed back to theaters. Warner Bros. and Fathom Events are teaming up to rerelease the Oscar-winning fantasy blockbusters. The versions screened will be Peter Jackson's extended editions, as well as the versions that the filmmaker remastered in 2020 for a 4K Ultra HD rerelease. This is the first time the remastered films will be in theaters.
Credit: The Hollywood Reporter Duration: 01:13Published
This Day in History: , Prince Dies.
April 21, 2016.
The iconic musician, 57,
was found dead at his estate,
Paisley Park, in Minnesota.
Prince had overdosed on fentanyl.
His death was ruled accidental.
Over the span of four decades,
Prince transcended genre and created
more than 30 albums, his first in 1978 for Warner Bros.
Prince often played all of the
instruments on the album himself.
He was charismatic and electrifying on stage.
His 1984 album 'Purple Rain'
sold 13 million copies. It was number one
on the 'Billboard' 200 chart for 24 consecutive weeks.
He won seven Grammy awards.
His final album was released in 2015,
just months before his death.
Few artists have influenced the sound and trajectory of popular music more distinctly, or touched quite so many people with their talent, President Obama, via History.com
Credit: Wibbitz Top Stories Duration: 01:00Published
A woman alleged to be the inspiration for the stalker character of Martha in hit Netflix series Baby Reindeer has branded the show "defamatory" and plans to sue. Sky News
Piers Morgan is teasing an interview with the real-life 'Baby Reindeer' stalker. The breakout Netflix hit - created by and starring Scottish comedian Richard Gadd inspired by a traumatic, six-year-long stalking incident has inspired a flurry of headlines. Because Gadd pulled from personal experience to craft the true crime tale, many have attempted to track down the real people behind 'Baby Reindeer's' characters.
Credit: The Hollywood Reporter Duration: 01:42Published
Kim Kardashian may have been booed during the live roast of Tom Brady, but Netflix is making sure no one remembers it. The streamer has now edited out the boos from the comedy special on its platform. The reality TV icon received a harsh reception as she took the stage for her turn to roast the GOAT but had to endure the interruption while attempting to launch into a Kevin Hart joke.
Credit: The Hollywood Reporter Duration: 01:05Published
'Wednesday' starring Jenna Ortega has officially started filming season 2! And the hit Netflix show has added a dozen actors to its cast. Filming has begun in Ireland, which is a change from the first season, which was primarily shot in Romania. The production has added several actors as series regulars for season two. New cast members include Steve Buscemi, Billie Piper, Evie Templeton, Owen Painter and Noah Taylor.
Credit: The Hollywood Reporter Duration: 01:32Published
Kim Kardashian getting booed at Tom Brady's roast came and went in the live broadcast -- and you're not gonna find it again in the current version on the.. TMZ.com
Discovery CEO David Zaslav and AT&T CEO John Stankey discuss the plan to combine WarnerMedia (CNN’s parent company) and Discovery into a new standalone media company.
AT&T Confirms $43 Billion Deal To Combine WarnerMedia With Discovery.
AT&T Confirms $43 Billion Deal To Combine WarnerMedia With Discovery.
AT&T and Discovery, Inc. made the announcement on May..
Credit: Wibbitz Top Stories Duration: 01:17Published
AT&T and Discovery, Inc. announced a deal under which AT&T’s WarnerMedia will be spun off and combined with Discovery in a new standalone media company. CNN’s Brian Stelter reports.