A Mega Media Shakeup: AT&T’s WarnerMedia-Discovery Deal

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 17 May 2021

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

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Summary

In a surprise move, AT&T has announced a $43 billion deal to merge WarnerMedia with Discovery Inc. Joe, Becky, and Andrew digest the news and what it means for media, from Hollywood to Wall Street. Media watcher and LightShed Partners co-founder Richard Greenfield considers content and business possibilities for the new entity and explains how he sees the deal affecting HBO Max and Discovery Plus subscribers. Plus, the “new” normal is finally on its way: former FDA Commissioner Dr. Scott Gottlieb says that by June, most Americans won’t be wearing masks, and vaccinated people have very little reason to continue wearing them. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	This is a squawk pod. I'm see NBC producer Katie Kramer today on our
0:05.5	podcast a surprise media shakeup. AT&T's deal to merge Warner Media with
0:11.0	discovery. This is a transformative deal in the media world. The
0:14.5	question now of course is they can take on effectively the likes of Disney and
0:19.0	Netflix. What this merger
0:23.5	rich greenfield on what the shareholders and the
0:26.0	binge watchers want.
0:27.0	They want to see this feeling look like Disney where the only thing that
0:30.9	matters is streaming and all of the energy is going towards
0:33.7	streaming. If they can pull it off that is. The creative and the I don't know it doesn't
0:38.7	always it doesn't always go together it's hard. That big news, plus it's finally time. The rain of the
0:46.2	mask may be over, says Dr. Scott Gottlie. There really isn't a lot of value in a
0:50.5	fully vaccinated person wearing a mask in any circumstance unless they want to or
0:55.2	they're at high risk because of a pre-existing condition.
0:58.4	It's Monday, May 17, 2021, Squawk Pod begins right now.
1:04.2	Good morning everybody.
1:05.2	Welcome to Squawk Box here on C.
1:07.6	I'm Becky Quick, along with Joe Kurnen and Andrew Ross
1:10.1	Sorkin and wow, it was a week last week.
1:14.0	First up today on the podcast a mega media deal.
1:17.0	AT&T announcing it is merging its Warner Media Group with Discovery Networks,
1:22.0	combining content like Wonder Woman, CNN, and
	...

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