- IAC chairman Barry Diller called the WarnerMedia-Discovery merger the “great escape” for AT&T.
- He made the comment during an interview on CNBC’s “Squawk Box.”
- “It’s the power of monopoly,” he said. “Ma Bell should be dead and buried by now.”
- See more stories on Insider’s business page.
Media mogul Barry Diller ripped AT&T’s WarnerMedia-Discovery merger in an interview on CNBC’s “Squawk Box” that aired on Friday.
Diller, the chairman of IAC and Expedia, called the WarnerMedia-Discovery merger the “great escape” for AT&T.
“It’s the power of monopoly. Ma Bell should be dead and buried by now,” he said, referring to AT&T’s old nickname when the company was called Bell Telephone.
AT&T announced earlier this week that it had plans to combine its content unit WarnerMedia with Discovery to pave the way for a new streaming giant that could compete with Netflix and Disney.
The new company will be led by Discovery CEO David Zaslav.
“It’s in better hands now. And Zaslav is the kind of creative executive… He’s scrappy. He built Discovery from relatively nothing, too something. He’s exactly the right person to try and develop it,” Diller said.
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