NEW YORK (AP) — AT&T said Monday it will combine its massive WarnerMedia media assets, which includes HBO and CNN, with Discovery Inc. to create a new media heavyweight in a $43 billion deal. The deal, which isn’t slated to close until next year, will create new publicly traded company that will enter 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. The deal is sure to have major implications for viewers, investors, and competitors alike.
