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AT&T and Discovery negotiate to combine content assets: Bloomberg News

(Reuters) – Wireless service provider AT&T Inc is in talks to combine content assets with Discovery Inc, Bloomberg reported Sunday, citing people with knowledge of the matter.

The proposed deal could create an entertainment giant to better compete with Netflix Inc and Walt Disney Co, according to the report.

Both AT&T and Discovery declined to comment.

AT&T already houses some popular brands in the entertainment business such as HBO, HBO Max, CNN and many more through its WarnerMedia division.

HBO and HBO Max now have 63.9 million global subscribers, compared to more than 100 million for Disney + and 207.6 million for Netflix.

Discovery, whose portfolio includes Animal Planet, HGTV and the Discovery Channel, reaches 88.3 million households in the United States.

(Report by Maria Ponnezhath in Bengaluru; edited in Spanish by Carlos Serrano)

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