AT&T intends to break off its media arm and merge the assets with Discovery, in what could be a bid to strengthen the organization against streaming rivals such as Netflix, Disney, and Apple.AT&T is believed to be preparing to make a deal with Discovery that could create a new media behemoth, one that could be announced within the next week. If agreed, the deal would see AT&T spin off its media assets, which would then be combined with Discovery into a new entity.According to sources of Bloomberg, the two organizations are still negotiating the structure of the transaction, and it could still collapse at this late stage.Read more
