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Benzinga
Benzinga
Technology
Anusuya Lahiri

Discovery CFO Confirms Merger With WarnerMedia's HBO Max App

Discovery Nasdaq NYSE Netflix NFLX Gunnar Wiedenfels DISCA
  • Discovery Inc(NASDAQ: DISCA) CFO Gunnar Wiedenfels confirmed its merger with AT&T Inc (NYSE: T) WarnerMedia at the Deutsche Bank 30th Annual Media, Internet, & Telecom Conference, the Verge reports. Wiedenfels looks to bundle the two streaming services (Discovery Plus and HBO Max) into one offering.
  • Wiedenfels believed that combining the two streaming services would better reach both male and female demographics than the respective services did on their own.
  • Related Content: AT&T And Discovery Confirm B Media Merger: What You Need To Know
  • Discovery Plus and HBO Max currently maintain ad-supported and ad-free tiers, with Discovery Plus’ charging $4.99 a month and $6.99 a month, HBO Max charging $9.99 a month and $14.99 a month. 
  • The bundling could lead to a monthly charge of $14.99 and $21.99. Netflix Inc (NASDAQ:NFLX) charged between $9.99 - $19.99 per month, depending on the number of screens and quality of streams. 
  • However, Netflix targeted mobile games to drive subscriber growth. The Walt Disney Co(NYSE:DIS) made its Hulu/Disney+/ESPN+ bundle a more attractive offering to drive subscriptions.
  • Price Action: NFLX shares traded lower by 2.59% at $331.51 on the last check Monday.
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