The writedown of the premium TV business reflects "years of cord-cutting as viewers move to cheaper online streaming services."
The deal for the streaming business comes as COVID-19 has upended the movie-theater business.
AT&T, Lululemon, Cox Media Group, Washington Football Team, DXC Technology, Sysco, Molina Healthcare, New York Public Radio, LongRange Capital
“Like the rest of the entertainment industry, we have not been immune to the significant impact of the pandemic."
“AT&T’s Q1 TV subscriber numbers indicate how quickly the pay TV market is imploding."
An FTC commissioner says AT&T's unlimited data plan for smartphone customers was a "bait-and-switch scam."
Amid pressure from Elliott Management, the telecom and media giant announced a plan to cut costs and pay down debt.
The activist investor believes AT&T is deeply undervalued, citing its "irreplaceable assets, enormous earnings power and an ability to win in key markets."
The move comes as rivals look to roll out new technology.
When M&A deals are booming, it's important for CFOs to remember that volume fuels mistakes as well as success.
The appeal, if successful, would unravel AT&T's takeover of Time Warner but legal experts see it as a long shot.
The acquisiton is seen as part of a push to compete with Google and Facebook in online advertising.
