At Time Warner, executives saw AT&T as just a “big phone company from Texas.” At AT&T, they thought Hollywood would play by their rules. That combination led to strategic miscalculation unrivaled in recent corporate history.
HBO Max took down classic episodes of “Sesame Street” as it prepares to combine with Discovery+. The move came as a surprise to fans, who worried about what it signals.
Seen as the future of CNN, the streaming channel was suddenly killed. Its soon-to-be owner, Discovery, had concerns but until the deal closed, it was constrained in guiding a competitor.
With a new owner, the 99-year-old movie studio appears headed back to its traditional sweet spot as an entertainment company. But the business of Hollywood is no longer the same.