A Casablanca quote crossed WarnerMedia CEO Jason Kilar’s lips during AT&T’s March 12 investor day when touting the benefits of vertical integration, or housing content and distribution businesses under the same corporate roof: “It reminds me of that classic Warner Bros.
line,” he said. “It’s the beginning of a beautiful friendship.” AT&T had closed the $85 billion takeover of Time Warner in June 2018, promising cost reductions — which deals typically bring — but also revenue synergies and other benefits.
That vision brought forth HBO Max in May 2020, a streaming service that, together with HBO, boasts 41 million domestic subscribers but trails Disney+ in rapid growth and Netflix in total scale.
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