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AT&T: ‘Deal means a Netflix rival’

AT&T has indicated it will use its proposed $85.4 billion acquisition of Time Warner to build a digital video platform to take on Netflix.

Randall Stephenson, AT&T chief executive, said that owning content from HBO, Time Warner’s critically-acclaimed premium network, and Warner Bros, Hollywood’s largest studio, would allow AT&T to move more quickly as it builds a new video product to offset the decline of its satellite television business, DirecTV.

AT&T will next month launch DirecTV Now, the latest in a string of OTT services inspired by the success of Netflix and Amazon Prime Video.

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