David Zaslav, CEO, Warner Bros. Discovery.
Anjali Sundaram | CNBC
A deal with AT&T will give Discovery the scale and firepower to be a major player in the streaming video industry, according to Citi.
AT&T said on Monday it will merge its WarnerMedia business, which includes HBO, with Discovery to create a new stand-alone company.
In anticipation of that announcement, Citi analyst Jason Bazinet upgraded Discovery to buy from neutral, saying in a note to clients that the deal is appealing for shareholders of both companies.
