5/16, 8:45 PM (Source: TeleTrader)
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AT&T in talks to merge WarnerMedia, Discovery - report

AT&T is in talks with Discovery over merging its subsidiary WarnerMedia with the New York-based company to take on rivals Disney and Netflix, CNBC reported on Sunday citing sources familiar with the negotiations.

Furthermore, an agreement could be announced tomorrow, the news channel said, however noting that the merger could also be canceled as the negotiations are not yet finalized.

If the two companies proceed with the deal, Discovery and WarnerMedia will transform into a new public company in ownership of all involved shareholders.

Breaking the News / ND