In the age of Netflix and tech giants, traditional media companies have decided that they must join together or die. The WarnerMedia-Discovery merger announced yesterday likely won’t be the last union of major content providers.AT&T, just three years after buying Time Warner for $81 billion (and renaming it WarnerMedia), plans to spin off the entertainment company and combine it with Discovery, the owner of popular unscripted US TV channels like Food Network and TLC. AT&T will receive $43 billion in the deal. Its shareholders will own 71% of the new company, while Discovery’s investors will get 29%. Longtime Discovery CEO David Zaslav will lead the still-unnamed joint venture.The company, i
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