WarnerMedia and Discovery could be heading for a merger, according to reports by Bloomberg and The Financial Times.
Communications giant, AT&T, is planning to combine its media content division, WarnerMedia, with Discovery Inc just three years after acquiring Time Warner Inc for $85bn.
The deal is aimed at creating a company that could reasonably compete with streaming services Netflix and Disney+.
The new company would reportedly be led by Discovery CEO David Zaslav.
Through WarnerMedia, AT&T owns Warner Bros Studio, HBO, CNN and Cartoon Network. WarnerMedia is home to franchises including Harry Potter and Batman.
Jon Creamer
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