WarnerMedia, Discovery Merging in $43 Billion Deal

AT&T announced a massive merger with Discovery Monday morning. 

AT&T's content unit, WarnerMedia, which includes CNN, HBO, TNT and TBS, is being combined with Discovery in a $43 billion deal to make a new entity. The merger has to be approved by regulators, but is expected to close about this time next year.

This is just another sign of the struggles broadcast media companies are facing as more people cut the cord and turn to streaming services.