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AT&T was facing pressure to reduce its debt in order to invest heavily in building its 5G network to keep pace with other mobile carriers. In February 2021, AT&T announced the sale of DirecTV.
The next day, however, AT&T CEO Randall Stephenson told CNBC that the appeal would not affect its plans to integrate WarnerMedia into AT&T, or services already launched. [111] In a brief filed by the Justice Department, it was argued that the decision to approve the acquisition ran "contrary to fundamental economic logic and the evidence".
AT&T on Thursday reported solid results for its final quarter of full ownership of WarnerMedia, but its stock plunged after the company lowered its outlook for full-year free cash flow. Excluding ...
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On April 30, 2020, it was folded into WarnerMedia. [12] Rumors and speculation spread in 2020 that AT&T was seeking to sell and offload Xandr, along with DirecTV and Crunchyroll. The reasoning is twofold: first, AT&T took on immense debt to purchase WarnerMedia, and any non-core asset sales would help pay off that debt burden.
WarnerMedia Entertainment would consist of HBO, TBS, TNT, TruTV, and an upcoming direct-to-consumer video service (led by former NBC entertainment chief Robert Greenblatt), while WarnerMedia News & Sports would consist of CNN, Turner Sports, and the AT&T SportsNet regional networks (which would be led by CNN Worldwide president Jeff Zucker ...
The transaction will spin off 100% of AT&T’s interest in WarnerMedia to AT&T’s existing shareholders in a pro-rata distribution, followed by the merger of WarnerMedia with Discovery to form a ...
AT&T CEO John Stankey positioned the proposed merger of WarnerMedia and Discovery as letting the companies — and their investors — better tap into the global direct-to-consumer opportunity, by ...