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“The Streaming Business Is War”: An Excerpt From HBO Oral History ‘Tinderbox’

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Code words. Billions at stake. Golf emojis. In James Andrew Miller’s new book, CEOs John Stankey and David Zaslav reveal new details about the secret mogul meetings that led to the blockbuster WarnerMedia-Discovery deal.

HBO, which lived under the HBO Max rubric, wasn’t affected as much. The big jump in its programming hours had occurred post-, from about 100 hours of scripted programming to 150 hours, and post-pandemic it was looking like 185 hours, the most in HBO history.

So when on Sunday, May 16, 2021, news leaked that AT&T would spin off WarnerMedia to merge it with Discovery, HBO and WarnerMedia executives weren’t surprised, as in, “Yeah, so the cash crunch wasn’t fake after all.” John Stankey called selected senior executives on Sunday to tell them this thing was for real, and they in turn contacted their teams to tell them to hold on. It was going to be a bumpy ride. Once again.

The deal called for AT&T to receive a combination of cash and bonds worth $43 billion and its shareholders to own 71 percent of the new company .

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What's interesting about this article ... is that there are multiple ads displaying the premiere of StarTrekDisco Season4 - when international fans were just advised that they wouldn't be receiving s4 due to contract issues between Paramount+ & Netflix.

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