“I need you, but I hate to see you this way / If I were Superman then we’d fly away / I’d really like to change the world / And save it from the mess it’s in / I’m too weak, I’m so thin / I’d like to fly but I can’t even swim” — Ray Davies, (Wish I Could Fly Like) Superman, 1979.
You might have heard the news. It’s been bombarding El Casa de Oro all week, and it’s been blitzing the interwebs to the point where I’m thinking of upgrading my dial-up. But just in case you’ve been away chasing after the Perseverance Rover, I’ll make my journalism teachers happy.
This past weekend, AT&T sold control and most of their ownership of their WarnerMedia division to Discovery Networks, owners of the many, many Discovery “cable” channels, HGTV, the Food Network, TLC, ID, Animal Planet, the Magnolia Network, and the Discovery+ streaming operation. They call this stuff “reality programming” but, as we all know, reality is in the mind of the beholder. As far as I’m concerned, that million-dollar vaccine lottery is the only reality show.
AT&T had only recently bought what they now call WarnerMedia — Warner Bros, CNN, HBO, Cinemax, the Cartoon Network, TCM, TBS, TNT, and a bunch of other stuff. If you can read the six-point type, you’ll discover they own some publishing as well, such as whatever is left of Mad Magazine and the meandering DC comics. Ma Bell went into so much debt to do this deal that, upon reading the report, King Midas reflexively picked his nose.
After acquiring that Denali of debt load, AT&T came down with a severe case of buyer’s remorse. I’m sure the stay-home-or-die principle that governed most thinking humans these past fourteen months did not help one bit, but it wasn’t a very good deal in the first place. After all, what does AT&T know about running the Home Insurance Building of media (sorry; “I.P.”) companies? Continue reading “Brainiac On Banjo: Publish and Perish?”