AT&T Inc. (NYSE: T) is set to launch a streaming video service next year combining under one umbrella the films and TV shows it acquired in its blockbuster purchase of Time Warner, now called WarnerMedia.
The new online service, which has yet to be named, is expected to debut in the fourth quarter of 2019 and center around the premium subscription channel HBO, though it wouldn’t replace the existing streaming service HBO Now.
“Around HBO will come a great library of additional content from not only the WarnerMedia properties but also some selective third party licensed content,” WarnerMedia Chief Executive Officer John Stankey said during in an interview at the Vanity Fair New Establishment Summit Wednesday.
“And the driver behind this is really straight forward. We know there’s customers who love to engage with our content — we’ve got a great history of building it — much of which they can’t get in one place,” he said.
AT&T said the new service would offer up WarnerMedia’s films, TV series, older content, documentaries and animated shows. WarnerMedia currently offers customers on-demand access to programming through HBO Now, FilmStruck and Boom.
The Company said in a securities filing it would fund the new product with “incremental efficiencies within the WarnerMedia operations” and by diverting resources from “sub-scale” direct-to-consumer efforts, among other things.
AT&T took control of the media giant that owns HBO, Turner channels like TNT and TBS and the storied Warner Bros. film studios after a bruising antitrust fight with the U.S. Department of Justice. A federal judge in June ruled the transaction could proceed, though the government has appealed that decision.