John Stankey told an investors conference that spinning off the streaming platform into Warner Bros.-Discovery will have investors looking at HBO Max like a direct-to-consumer offering like Netflix.
AT&T CEO John Stankey has defended his decision to merge WarnerMedia with Discovery to allow the telecom giant to value its streaming service HBO Max like Netflix.
Introducing a different “investment thesis” with the planned Warner Bros.-Discovery business, Stankey said the new streaming platform would trade on financial markets more like a direct-to-consumer company, and not a legacy media cable TV as was the case now.
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