US telecom company AT&T Inc is heading towards closing a deal with Discovery Inc, owner of networks including HGTV and TLC, to combine its media assets such as CNN and HBO. If the deal is finalized it would mark the unwinding of AT&T’s 2018 acquisition of Time Warner worth $108.7bn. The AT&T and Discovery combination would create a separate company with an estimated value of $150bn including debt as reported by the FT. Discovery’s current market value including debt is around $30bn. While both AT&T and Discovery declined to comment, the deal is expected to be announced later this week as per Bloomberg.
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