WarnerMedia To Launch Direct-To-Consumer Streaming Service

After weeks of rumors, WarnerMedia CEO John Stankey on Wednesday announced the company's new streaming service via a press release:

"Today we announced plans to launch a new direct-to-consumer streaming service in the fourth quarter of 2019. This is another benefit of the AT&T/Time Warner merger, and we are committed to launching a complelling and competitive product that will serve as a compliment to our existing businesses and help us expand our reach by offering a new choice for entertainment with the WarnerMedia collection of films, television series, libraries, documentaries and animation loved by consumers around the world. We expect to create such a compelling product that it will help distributors increase consumer penetration of current packages and help us successfully reach more customers."

While details on the service are still more than a bit vague, it appears the service will be built on HBO Go and include content from other WarnerMedia owned cable properties.