US telecom giant AT&T( $T )is reportedly close to striking a deal with Discovery that would create a $150B streaming giant. AT&T owns CNN, HBO, and Warner Bros, after acquiring many brands in a $108.7bn purchase of Time Warner in 2018. The proposed deal would put together movie-making powerhouse Warner Bros. Entertainment, which is home to the Harry Potter and Batman franchises, and Discovery's stable of unscripted home, cooking, nature, and science shows.WarnerMedia-owned HBO and HBO Max now have around 64m subscribers worldwide.
It is currently dwarfed by larger rivals Netflix (NFLX), which has 208m subscribers, and Disney+ ($DIS), which has more than 100m.
Discovery, whose portfolio includes Animal Planet and the Discovery Channel, reaches more than 88m US homes, while its Discovery+ streaming service, which launched in January, has 15m subscribers.
Bitcoin’s recent breakdown could signal that risk appetite on Wall Street is in transition — presumably in a bearish direction. Bitcoin prices are down 28% from a peak at $64,829.14 in mid-April, and Sunday’s trade was choppy for the world’s most prominent crypto after a tweet from the digital-asset bull and Tesla Inc. TSLA, +3.16% CEO Elon Musk was interpreted as a threat to unload the $1.5 billion investment in bitcoin that the electric-vehicle company announced back in February.
The Russell 2000 closed Friday notching its largest weekly percentage decline since March 26, off 2.1%. It was a bruising week for stocks, generally, even if equities enjoyed a solid rally to end the five-day trading period that had been marked by unease about inflation in the middle of the week. The Dow Jones Industrial Average DJIA, +1.06%, S&P 500 SPX, +1.49%, and the technology-laden Nasdaq Composite Index COMP, +2.32% all logged their steepest weekly losses since Feb. 26 and the Nasdaq also booked its lengthiest weekly losing streak, four straight, since Aug. 23, 2019. $ARKX $XOM $TSLA $AAL $BNGO $MARA $O $CRWD $FB $AAPL $FCEL $MGM $GOOGL $EZGO $SHOP $MTCH $DIS $PDD $ $TWTR $MVIS $PLTR $BFLY $T $GM $ABNB $BUZZ $PTON $TDOC $DDD $U$HOFV $VIAC $DISCA
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