One of AT&T’s biggest priorities is its new streaming service. But its launch is now coming after most rival offerings have already hit the market
By Joe Flint and Patience Haggin Sept. 10, 2019 7:15 am ET When AT&T Inc. T 1.49% agreed to buy Time Warner nearly three years ago, it promised to create an entertainment and advertising behemoth that could take on Silicon Valley giants like Alphabet Inc. ’s Google and Netflix Inc.Elliott Management Corp.
“While it is too soon to tell whether AT&T can create value with Time Warner, we remain cautious on the benefits of this combination,” Elliott said. The investment firm called for AT&T to focus more on execution, rather than acquisitions, and divest itself of any noncore assets across its business. By this summer, the company had shifted to focus on a single offering, HBO Max. “This quick reversal has intensified the skepticism around WarnerMedia, its OTT strategy and the management of the business itself,” Elliott said.
WarnerMedia has unveiled a large number of original TV shows and movies for HBO Max as well as reacquiring key library content including reruns of the hit comedy “Friends.” It hasn’t yet announced a price for the service, but it is likely to cost slightly more than the $14.99 average price for HBO Now, a person familiar with the matter has said.
The executive AT&T picked to lead WarnerMedia, John Stankey, has since emerged as the likely successor to Mr. Stephenson.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
AT&T Stock Jumps as Activist Investor Calls for Changes, Raises Questions About Time Warner Deal BenefitsElliott Management says four strategies can help push the stock higher and argues the takeover of DirecTV has had 'damaging results' as it came 'at the absolute peak of the linear TV market.'
Leer más »
Elliott urges AT&T to sell assets, questions Time Warner dealAT&T Inc shareholder Elliott Management Corp on Monday called for the wireless c...
Leer más »
These Are the Best Back-to-School Movies of All TimeThese back-to-school flicks make it almost okay to leave the bikini behind.
Leer más »
Pompeo: Peace talks with Taliban canceled ‘for the time being’Secretary of State Mike Pompeo said Sunday that peace negotiations with the Taliban are off indefinitely after the Islamist militia admitted responsibility for a recent attack in which a U.S. soldier died
Leer más »
How To Take Your Side Gig Full-TimeWould you like to turn your passion into profit? Here are 5 tips to turn that side gig into a full-time business.
Leer más »