AT&T Has Completed its Acquisition of Time Warner

As of last night, AT&T is now the owner of Time Warner. With that comes 10% of Hulu and networks like HBO, CNN, Cartoon Network, TNT, and many others. This also gives AT&T ownership to the studios owned by Time Warner including Warner Bos.

“The content and creative talent at Warner Bros., HBO and Turner are first-rate. Combine all that with AT&T’s strengths in direct-to-consumer distribution, and we offer customers a differentiated, high-quality, mobile-first entertainment experience,” said Randall Stephenson, chairman and CEO of AT&T Inc. “We’re going to bring a fresh approach to how the media and entertainment industry works for consumers, content creators, distributors and advertisers.”

AT&T Media Business now includes HBO, Turner, and Warner Bros. Together these brands had revenues of over $31 billion in 2017. AT&T says they plan to rename the media business unit at some later date.

The merger with Time Warner clears the way for AT&T to launch their new $15 AT&T Watch streaming service. This new service will be priced at $15/month and be a sports free version of DIRECTV NOW. According to Mr. Stephenson, the service drops sports programming and will focus on other channels similar to how Philo works. The hope is the service will appeal to a more budget-conscious streaming audience. It is also being reported by Variety that AT&T Watch will be offered to AT&T Wireless customers for free.

For now AT&T has not commented on when they plan to launch AT&T Watch.

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