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Which of these U.S. media brands was launched first? HBO, CNN, TNT or Cartoon Network. These brands are in order from oldest to youngest with HBO's birthday dating back in 1972.
One thing all those brands have in common is that they're part of a larger company called WarnerMedia and WarnerMedia is owned by AT&T. It has been since 2018. But AT&T has decided to sell WarnerMedia to Discovery. Why? AT&T is a large wireless company and satellite TV distributor. It wanted to offer programming and entertainment as well. That's why it bought WarnerMedia three years ago for $85 billion.
But AT&T, the worlds largest telecommunications company wants to change course again. For one thing, the acquisition of WarnerMedia left it with a lot of debt and AT&T along with its investors want to focus more on 5G and other parts of its core business. So it's selling WarnerMedia which includes CNN to Discovery. The deal with worth $43 billion to AT&T.
