Today AT&T’s Warner Bros. Home Entertainment and Universal Pictures Home Entertainment Announced a joint venture to merge the two physical disc home entertainment operations in the United States and Canada into a single group. This new partnership would merge the two operations to offer physical discs sold int North America from a single company. It seems AT&T and Universal are hoping a joint effort can address the dropping sales of physical media.
“As the home entertainment landscape evolves, we are continuously working to deliver the best entertainment range and value to our fans,” said Sanders. “The physical business is still an important and active category for the industry. This proposed joint venture with Universal gives us the best opportunity to foster innovation in this business, optimize the physical offering and extend the lifespan of the format for our fans and consumers.”
“With market conditions and consumer viewing behaviors continuing to evolve, we wanted a partner who shares in our commitment to deliver the best consumer proposition going forward,” said Levinsohn. “This proposed JV presents a significant opportunity to continue to work with our retail partners to ensure the format’s strength and sustainability for years to come.” On the appointment of Eddie Cunningham, Levinsohn said, “For more than two decades Eddie has been an expert in understanding the evolution of the physical home entertainment landscape. He’s been a dynamic leader in shepherding business innovation and operational effectiveness.”
AT&T says they hope the new joint venture wills tart operation in the 1st quarter of 2021. This deal will run for 10 years and will be responsible for all Blu-ray, DVD and 4K UHD distribution of Warner Bros. and Universal Pictures films. For now, this proposed merger needs to receive regulatory approval from several governments.
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