It’s been not quite three years since AT&T completed its $85 billion merger with Time Warner, with the hope that investing in content would drive customers to consume that content with AT&T’s internet and on AT&T phones. Now, that deal is coming undone. AT&T now plans to spin off HBO, CNN and the rest of its media assets in a deal with Discovery, leaving telecom as its main focus again. Verizon is doing the same thing by getting rid of AOL and Yahoo. Marketplace’s Amy Scott speaks with Roger Entner, who follows the industry as founder of Recon Analytics. He said this comes as the companies pour billions of dollars into 5G and fiber. And it’s hard to fight the broadband war and the streaming war at the same time.

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