Photo: Bloomberg

Long-time followers of this tech column might recall that I have chronicled the rise and rise of streaming giant Netflix, the collapse of cable TV or Pay TV bundle as “cord-cutting” gathered pace and an array of big media mergers including Fox Corp’s sale of its assets to Walt Disney Inc in 2018. Over the past two weeks, the reshuffling of the global media has suddenly gained momentum. On May 17, US cellular service powerhouse AT&T announced it would spin off its WarnerMedia assets and merge them with Discovery Inc, less than three years after it acquired them with much fanfare for US$85 billion.

WarnerMedia owns cable channels such as CNN, HBO, TNT and TBS as well as the Warner Bros. TV and film studio. Discovery owns Animal Planet, Science Channel, reality TV-focused TLC and home improvement, real estate channel HGTV and the eponymous Discovery channel.

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