Todd Spangler NY Digital EditorAT&T CEO John Stankey positioned the proposed merger of WarnerMedia and Discovery as letting the companies — and their investors — better tap into the global direct-to-consumer opportunity, by separating the media assets from the telco.“I think, realistically, HBO Max would not be where it is today without the combined strength” of WarnerMedia and AT&T, said Stankey, speaking Monday at the J.P.
Morgan Technology, Media and Communications Conference.Having said that, Stankey added, what became clear is that in order to “seize the multi-hundred-billion-dollar opportunity” in direct-to-consumer streaming, WarnerMedia needed a different investor base and structure that would position it for global expansion.
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