AT&T still faces a crushing debt load of nearly $170 billion, and an expensive build-out of its 5G network, as well as rival carriers who seem to have a jump on the next generation of fast mobile internet service. Now it is back to primarily being a wireless phone company, with all of the issues that entails. On Monday it announced it would spin off the business into a new entity that would merge with a rival programmer, Discovery Inc. ![]() And AT&T has decided it can no longer sustain its media ambitions. Zucker remains) and over 2,000 workers have been laid off. Stephenson never made such remarks.įive years later, most of AT&T’s top media executives have left or were ousted (though Mr. ![]() They’re executives.” The company says Mr. “These guys back in New York,” he said, referring to boldface executives like HBO’s Richard Plepler and CNN’s Jeff Zucker, “they think they’re ball players. Stephenson praised his new prize, but also took a moment to take a small jab at the company he was about to acquire, according to two people with knowledge of the matter who spoke on the condition of anonymity to describe a private meeting. ![]() It was about to take ownership of Time Warner, the entertainment colossus behind HBO, CNN and the Warner Bros. The wireless provider was on the verge of a transformative deal that would turn the phone company into a tech and media giant. Stephenson, the chief executive, sounded a victory note. At a meeting of AT&T’s top leaders at the company’s headquarters in Dallas, Randall L.
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