AT&T's WarnerMedia ($T) Disrupts Its Theatrical for Streaming, Will Disney ($DIS)?

Without theatrical revenues, which ecosystem is better positioned for winning with streaming: WarnerMedia with HBO Max, or Disney and Disney+?

Two exceptional pieces of journalism emerged over the weekend about the streaming marketplace. The first came from CNBC's Alex Sherman, who provided a long, in-depth history of how AT&T's management led HBO Max to where it is today.

The second came from The Financial Times' Anna Nicolaou, who wrote about how Disney has been navigating its transition to d…