“AT&T’s Q1 TV subscriber numbers indicate how quickly the pay TV market is imploding."
The activist investor believes AT&T is deeply undervalued, citing its "irreplaceable assets, enormous earnings power and an ability to win in key markets."
Time Warner shares fall 3.1% amid investor concerns that the blockbuster merger will not pass muster with antitrust regulators.
Company chiefs project that that sales, capital spending, and hiring will pull back over the next six months, the Business Roundtable reports.
