Telecom giant AT&T on Monday reacted to activist investor Elliott Management with a three-year financial plan and a set of initiatives, saying it would review its asset portfolio, which signaled the potential sale of non-core businesses, engage in "no major" acquisitions and look at changes to its board.
Elliott in a response said it had held conversations with AT&T's management and board about its key concerns and was "supporting the multi-faceted approach to shareholder value creation unveiled by the company today." AT&T on Monday also reported its third-quarter financials, disclosing that it lost 195,000 subscribers at its DirecTV Now streaming service in the third quarter after a 168,000 loss in the second quarter, and lost another 1.2 million premium TV subscribers at DirecTV and U-Verse.
WarnerMedia, led by Stankey, continued to face a potential subscriber headwind at HBO amid a continued blackout on pay TV giant Dish Network. Meanwhile, the Warner Bros. film unit's key release in the third quarter was AT&T will on Tuesday host its formal coming out for the planned HBO Max streaming service in Burbank where it is expected to share the service's pricing and other details.
This man should be on sick leave , no joke !!! As a favour to all of us !!!
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