Discovery CFO Confirms Merger With WarnerMedia's HBO Max App

Discovery IncDISCA CFO Gunnar Wiedenfels confirmed its merger with AT&T Inc 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.
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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 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 CoDIS 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.