in a global battle over the future of entertainment. In 2019, Disney bought 21st Century Fox’s entertainments assets for $71bn, largely to gain enough muscle to constantly refresh its streaming services. It launched Disney+ in November 2019 and already has more than 100-million subscribers.
Combining such assets would be complex, as the two companies have numerous long-term deals in place with pay-TV companies. A merged company would also have to choose a leader between WarnerMedia CEO Jason Kilar and Discovery’s Zaslav. On Sunday, Greenfield tweeted that he could “certainly imagine the secularly declining Turner assets merged with Discovery for scale”, but added that it was “harder to imagine” HBO Max and AT&T’s Warner Bros studio being part of a combined company.
Kilar irked the Hollywood establishment with his decision in December to release all of WarnerMedia’s movie slate on HBO Max at the same time the films hit theatres. But its recent movies have performed well at the box office, helping soothe concerns.
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