Warner-Discovery deal stirs up global streaming battles

Monday’s merger of WarnerMedia’s entertainment, sports, and news assets with Discovery’s non-fiction, international entertainment and sports businesses promises to create a new global streaming giant challenging incumbents across the world.

The deal will create substantial value for WarnerMedia’s parent AT&T Inc. and Discovery Inc. shareholders by accelerating plans of both companies to lead direct-to-consumer (DTC) streaming services for global consumers, according to a joint statement released on Monday night. The combined entity could become a powerful competitor in Indian web streaming, media experts said, though details are sketchy on how the deal would pan out for specific geographies.