In 2018 American phone company AT&T spent $85bn and fought off a government antitrust challenge to buy Time Warner — the owners of Warner Bros, CNN and HBO.

Since then WarnerMedia has grown to include HBO’s streaming service HBO Max and the sports heavy cable services TBS and TNT, but in the popular and lucrative world of streaming, and in spite of spending billions on its HBO Max streaming service, which has about 20-million subscribers, the company has been struggling to compete against streaming giants such as Netflix and Disney+...

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