Discovery plans to merge Discovery+ and WarnerMedia’s HBO Max into one streaming service shortly after completing the acquisition of AT&T’s entertainment spinoff WarnerMedia. The news was shared by Discovery CFO Gunnar Wiedenfels, speaking Monday at Deutsche Bank’s 30th Annual Media, Internet & Telecom Conference. Wiedenfels said that the transition will likely take “several months” but “an interim solution” will be introduced “in the meantime.” “Building one very, very strong combined direct-to-consumer product and platform, that’s going to take a while,” he said. Continue reading HBO Max, Discovery+ Will Be Combined into a Single Service

WarnerMedia’s CNN is expected to charge $5.99 per month for its subscription-video streaming news outlet, CNN+, when it rolls out this spring. Early subscribers who sign up for CNN+ during the initial four-week promotion will pay $2.99 and have the option of CNN+ for life at 50 percent off the regular price, as long as the subscription is kept active. While many TV news networks have been launching free, ad-supported streaming outlets, CNN+ will reportedly run the same price as Fox Nation. The news network hopes that CNN+ will attract consumers growing up without cable and help the brand transition to a post-pay TV world. Continue reading CNN Readies Launch of Subscription Streaming News Outlet

Broadcasting the 2020 Summer Olympics and expenses related to its new direct-to-consumer businesses affected Discovery’s third quarter profits, despite adding three million streaming subscribers and overall increases in traditional revenues. The owner of the Discovery Channel, Food Network, TLC and Discovery+ said that while Q3 revenue rose 23 percent to $3.15 billion, net income fell 48 percent to $156 million. International was the big growth area, with foreign revenue surging 44 percent. Meanwhile, Discovery has hired Kevin Mayer as a consultant to help with its streaming strategy as the company preps for its merger with WarnerMedia.  Continue reading Discovery Touts Global Growth, Hires Consultant Kevin Mayer