AT&T admits it 'made a terrible mistake' getting into media business with Discovery deal: analyst

Yahoo Finance2021-05-18

There will be plenty of time for pundits, analysts and investors to diagnose and debate why AT&T (T) couldn't successfully drive value from a media business (then known as Time Warner) it spent a ...

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Comments

Nivlek
2021-05-18
Nivlek
ATnT have to stay focus . Time to put it in watchlist.
eddie1981
2021-05-18
eddie1981
Shag
SandDust
2021-05-18
SandDust
Title might be misleading. I actually thought they are pulling out the merger. But upon more study they meant they are unwinding the previous foray into content via Time Warner and prefer now to focus on 5G.
TeckLeong
2021-05-18
TeckLeong
So are they pulling out?
kyawkh
2021-05-18
kyawkh
OMG
henghm
2021-05-18
henghm
Like and comment
- ponyinvestor:
  Like and leave a comment on my post pls

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Driving value from the now WarnerMedia portfolio will soon fall to a new partner, however.AT&T said Monday it will spin off its media division WarnerMedia and merge it with Discovery. The move joins household name media brands such as WarnerMedia's HBO and CNN with Discovery's HGTV, Animal Planet, Food Network, and TLC under one house.\"John [CEO John Stankey] road shotgun on both of the big deals they have now unwound in the last few months [Time Warner and DirectTV]. He was very much a driver of the DirectTV deal and very much a driver of the Time Warner deal,\" explained MoffettNathanson media analyst Craig Moffett on Yahoo Finance Live.Stankey assumed the CEO position in June 2020. Before that he worked closely with then AT&T CEO Randall Stephenson as president and COO and supporter of the splashy acquisitions of DirectTV and Time Warner. Stankey inked a deal in February to sell a stake in the struggling DirectTV.BURBANK, CALIFORNIA - OCTOBER 29: John Stankey, President & Chief Operating Officer of AT&T and Chief Executive Officer of WarnerMedia, speaks onstage at HBO Max WarnerMedia Investor Day Presentation at Warner Bros. Studios on October 29, 2019 in Burbank, California. (Photo by Presley Ann/Getty Images for WarnerMedia)Presley Ann via Getty ImagesThe newly combined WarnerMedia and Discovery would form one of the largest global streaming platforms in direct competition with Netflix and Amazon. Proceeds from the deal for AT&T will go towards paying down a considerable debt-load of more than $160 billion, which will help as the soon to be pure-play telecom giant builds out its 5G network. 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I mean they spent $175 billion for these assets and then three years later, they are unwinding those positions for what is kind of in theory, i guess, about $80 billion or so. So they destroyed a ton of value, but not many companies are willing to admit they made a mistake right away,\" Moffett said.A very costly mistake. But what is a few billions of dollars between media friends?","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":195552350,"gmtCreate":1621303436370,"gmtModify":1704355441387,"author":{"id":"3574990000560529","authorId":"3574990000560529","name":"Nivlek","avatar":"https://static.tigerbbs.com/d41f4149425ab3638407f5a060aa3b14","vip":1,"crmLevel":7,"crmLevelSwitch":1,"idStr":"3574990000560529","authorIdStr":"3574990000560529"},"htmlText":"ATnT have to stay focus . Time to put it in watchlist.","listText":"ATnT have to stay focus . Time to put it in watchlist.","text":"ATnT have to stay focus . Time to put it in watchlist.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/195552350","repostId":2136959367,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":195524064,"gmtCreate":1621303014758,"gmtModify":1704355430471,"author":{"id":"3561410287574649","authorId":"3561410287574649","name":"eddie1981","avatar":"https://static.tigerbbs.com/8b01933a7145c9a04d2d678e6fee375d","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3561410287574649","authorIdStr":"3561410287574649"},"htmlText":"Shag","listText":"Shag","text":"Shag","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/195524064","repostId":2136959367,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":195562764,"gmtCreate":1621302439658,"gmtModify":1704355416313,"author":{"id":"3581331938298103","authorId":"3581331938298103","name":"SandDust","avatar":"https://static.tigerbbs.com/ea6083d742fc232449a625fb122842c8","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3581331938298103","authorIdStr":"3581331938298103"},"htmlText":"Title might be misleading. I actually thought they are pulling out the merger. But upon more study they meant they are unwinding the previous foray into content via Time Warner and prefer now to focus on 5G.","listText":"Title might be misleading. I actually thought they are pulling out the merger. But upon more study they meant they are unwinding the previous foray into content via Time Warner and prefer now to focus on 5G.","text":"Title might be misleading. I actually thought they are pulling out the merger. But upon more study they meant they are unwinding the previous foray into content via Time Warner and prefer now to focus on 5G.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/195562764","repostId":2136959367,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":195592685,"gmtCreate":1621300522047,"gmtModify":1704355361485,"author":{"id":"3583037256607811","authorId":"3583037256607811","name":"TeckLeong","avatar":"https://static.tigerbbs.com/8ab4cb02daedd7a5193ca45de25e12fe","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3583037256607811","authorIdStr":"3583037256607811"},"htmlText":"So are they pulling out?","listText":"So are they pulling out?","text":"So are they pulling out?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/195592685","repostId":2136959367,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":195593595,"gmtCreate":1621300390917,"gmtModify":1704355356469,"author":{"id":"3581998173257990","authorId":"3581998173257990","name":"kyawkh","avatar":"https://static.tigerbbs.com/b6819d2405688957eac033bb43e588a5","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3581998173257990","authorIdStr":"3581998173257990"},"htmlText":"OMG","listText":"OMG","text":"OMG","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/195593595","repostId":2136959367,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":195502617,"gmtCreate":1621300065439,"gmtModify":1704355348354,"author":{"id":"3578451349447391","authorId":"3578451349447391","name":"henghm","avatar":"https://static.tigerbbs.com/ca41bf4eae57d98d93422d97c7246c98","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3578451349447391","authorIdStr":"3578451349447391"},"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/195502617","repostId":2136959367,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4361205,"gmtCreate":1621300206145,"gmtModify":1680789382442,"authorId":3575443999456708,"author":{"id":3575443999456708,"idStr":"3575443999456708","authorId":3575443999456708,"name":"ponyinvestor","avatar":"https://static.tigerbbs.com/138d1ebc8820019726a687f0ffe45994","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":195502617,"type":1,"supId":0,"prevId":0,"content":"Like and leave a comment on my post pls","text":"Like and leave a comment on my post pls","html":"Like and leave a comment on my post pls"}],"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":38,"commentSize":13,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2136959367"}