I think Discovery will be a better custodian of Time Warner than AT&T.
First they don't believe in woke causes. They are pure entertainment company, so a lot of woke content (female leading roles, black roles) that garner little rating, will be gone.
Second, Ann Sarnoff will be let go. Everyone knows Kilar is gone, but Kilar put Ann Sarnoff who has done so little in Hollywood she is a no body to lead creative part of Time Warner. Hence all the female leading roles in HBO. She is gone.
Discovery will then reduce cost of getting HBO. HBO and Discovery together at 10 dollars per month is a decent deal. HBO Max at 15 dollars is too expensive, particularly once you have to release movies to theaters first next year.
Watch out for AT&T stock to bottom out at mid to high teens. The dividend cut is absolutely huge.
AT&T has other issues. Their new CFO knows next to nothing about telecom (came from Time Warner) and is weak. The HR lady came from Time Warner too and knows nothing about Telecom (the connection award is a mess). They will be gone soon.
As for Stankey, I doubt he lasts past 2022. McElfresh is the CEO.