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AT&T Loses 50% Of Value Of Time Warner (CNN, HBO) In 3 Years…Go Woke, Go Broke


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"Last week AT&T announced the ‘spin off’ of Warner Media, acquired three years ago in AT&T’s acquisition of Time Warner. The entertainment assets will form a NewCo with Discovery. AT&T will refocus efforts on its core communications business.

Does anyone notice the buried lead in the two paragraphs below from CNBC describing the deal?

 

Under the agreement, AT&T will unwind its $85 billion acquisition of Time Warner, which closed just under three years ago and form a new media company with Discovery. The deal would create a new business, separate from AT&T, that could be valued at as much as $150 billion, including debt, according to The Financial Times, reported CNBC."

https://creativedestructionmedia.com/news/business/2021/05/25/att-loses-50-of-value-of-time-warner-cnn-hbo-in-3-years-go-woke-go-broke/

"See how the corporate media spin machine works?"

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AT&T has been struggling because of changes in it's base.   People are dropping land lines left and right in favor of their cell phones.  Their cell phone carrier may not be AT&T.

Lots of things went in to this.  But the point is people have options.

 

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Funny- just the other day, while cleaning out my closet, I found an actual stock certificate for 5 shares of AOL Time Warner. I remember buying AOL back in my very early investing days, but have no clue where this came from, how much it's worth, or even what to do with it! Seems like Time Warner has been passed around like the high school slut...

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6 hours ago, Historian said:

AT&T has been struggling because of changes in it's base.   People are dropping land lines left and right in favor of their cell phones.  Their cell phone carrier may not be AT&T.

Lots of things went in to this.  But the point is people have options.

 

Long distance tolls were once a mainstay of AT&T and its co-competitors. So-called WATS lines - 1-800- somewhat reduced individual tolls. Cell phones once had roving charges which seem to have disappeared. Now anyone with a cell phone can call anyone else in the States with no revenue for land lines. 

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I think hbo jumped the shark with hbo max, a pain in the ass to use. Then discovery did the same thing with its subscription service. My use of hbo has dropped off precipitously, even though it’s free to me.

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42 minutes ago, railfancwb said:

Long distance tolls were once a mainstay of AT&T and its co-competitors. So-called WATS lines - 1-800- somewhat reduced individual tolls. Cell phones once had roving charges which seem to have disappeared. Now anyone with a cell phone can call anyone else in the States with no revenue for land lines. 

Right.  And if you want a land line these days you can buy an VOIP phone that will pipe it out your internet.   

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Y'all act like AT&T is/was the only carrier for land lines. Hardly.

They have made some bad decisions along with really irritating their customer base in a lot of areas.

They are probably more in the entertainment business these days than telecommunication.

 

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ATT grew too big and became too slow to adjust to market changes.

What landline? Last time I had one was in 2007. 14 years on cell phone only. Same with stupid cable TV. Cut that in 2008.

Now they grow with left wing Disney together, one more reason to stay clear.

But I want that slut!

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