Executives at AT&T and Discovery Inc. are in active discussion of combining assets for a merger between the latter company and the former's WarnerMedia. An announcement may come within the coming days, with unidentified sources close to the talks pointing to a done deal.
https://deadline.com/2021/05/att-discovery-warnermedia-merger-media-assets-hbo-max-streaming-1234757836/
UPDATE (5/17/21): The merger is officially announced.
https://www.cnbc.com/amp/2021/05/17/att-to-combine-warnermedia-and-discovery-assets-to-create-a-new-standalone-company.html
UPDATE 2 (6/1/21): It has a name -- Warner Bros. Discovery
https://deadline.com/2021/06/discovery-merged-company-to-be-called-warner-bros-discovery-1234767195/
UPDATE 3 (2/9/22): The merger has been approved and cleared by U.S. regulators. It also already received the green light by European regulators.
https://deadline.com/2022/02/warnermedia-discovery-merger-doj-clearance-att-1234929507/
UPDATE 4 (3/11/22): The Discovery shareholders have approved the merger, with its expected completion coming in April.
https://deadline.com/2022/03/discovery-shareholders-approve-warnermedia-merger-att-1234976052/