The terms of the deal were not disclosed.
HBO Max, previously a premium add-on, dropped off of Amazon Prime's service in September 2021 after AT&T T failed to reach an agreement to extend distribution.
At the time, AT&T executives wanted more control over the direct-to- consumer relationship in addition to more access to viewership data. According to Bloomberg, Warner Bros. After the company's merger, Discovery CEO David Zaslav picked up conversations with Amazon in hopes of striking a new deal.
Discovery shares went up 3% on the news, but were lower with broader markets in morning trading.
Bruce Campbell, chief revenue and strategy officer at Warner Bros, said that Discovery is committed to making HBO Max available to as broad an audience as possible while advancing our data-driven approach to understanding our customers. Discovery made a statement.
By 2025, management has a long-term goal of 130 million paying users.
Discovery shares have fallen more than 50% since the beginning of the year, due to restructuring charges, macroeconomic challenges, further subscriber losses in linear television and a slowdown in advertising.
Layoffs have also hit the company, most recently at CNN, as Zaslav doubles down on streamlining the debt-ridden business.
Alexandra is a senior entertainment and media reporter at Yahoo Finance. Follow alliecanal 8193 on Twitter and email her at alexandra.canalyahoofinance.com.