AT&T To Pay DirecTV Up To $2.1 Billion For NFL Sunday Ticket Losses

AT&T no longer owns DirecTV but it has agreed to pay up to $2.1 billion for losses resulting from its NFL Sunday Ticket contract. AT&T agreed to spin off its pay TV businesses to TPG in a deal valued at $15 billion in February.  The deal closed in August. In a filing with the Securities and Exchange Commission, AT&T described how it was treating some aspects of the separation from a financial and accounting perspective.

WarnerMedia In Talks To Sell TMZ To Fox

AT&T is in talks to sell WarnerMedia’s celebrity gossip site TMZ to Fox in yet another deal paring down the telco’s entertainment assets, one that comes as it prepares to spin off Warner and merge it with Discovery.

AT&T Closes $1.175B CrunchyRoll Sale To Sony

AT&T moves further away from the video biz with the divestment of the thriving anime-focused niche SVOD service.

AT&T Completes DirecTV Spinoff

AT&T has completed the spinoff of DirecTV into a new entity part-owned by private equity firm TPG, capping a costly six-year adventure in the satellite TV business. The new entity, whose financials will no longer be included on the AT&T balance sheet, unveiled new branding and a new home for its internet-delivered TV packages. Later this month, DirecTV Stream will become the umbrella for streaming offerings like the one formerly known as AT&T TV Now (originally DirecTV Now).

AT&T’s 2Q Smashes Wall Street Forecasts

HBO and HBO Max added 2.8 million subscribers in the second quarter, reaching 47 million in the U.S. and helping parent AT&T beat Wall Street forecasts. Total AT&T revenue of $44 billion rose almost 8% from the year-earlier period and topped analysts’ consensus estimate of $42.6 billion. Earnings per share went up 7% to 89 cents, well ahead of analysts’ outlook of 79 cents.

AT&T To Sell $6.2 Billion Of Debt To Finance DirecTV Spinoff

AT&T is selling $6.2 billion worth of DirecTV Holdings debt in order to finance the spinoff of its linear pay TV assets. The telecom is selling $3.1 billion of six-year secured bonds (aka junk bonds) that are set to price Thursday and may yield around 6% to 6.5%.

Dish Signs Deal Making AT&T Its Mobile Phone Network

DirecTV Spin-off Gets FCC Approval

The FCC has approved AT&T’s spin-off of its traditional video distribution business as it moves toward streaming (HBO Max) as its video play of choice, citing the parties’ undisputed claim that the New DirecTV company that will result would be stronger because it could focus on traditional video. The FCC will not require the New DirecTV to deliver local TV station signals to the 12 smallest markets, as the broadcast affiliate associations had asked. It also declined to apply any program carriage conditions on the deal.

AT&T Sells, Will Lease CNN Center

A Florida-based real estate company has purchased the iconic CNN Center in downtown Atlanta, but its current occupants are staying put. AT&T, which owns CNN as a result of its 2018 acquisition of Time Warner, will lease the building from its new owners for a “a number of years.” The deal comes as AT&T prepares to spin off WarnerMedia, whose holdings include CNN, and combine it with Discovery and its stable of networks.

AT&T Wants To Be Premier Broadband Provider

Less than a month after it basically severed the last arm of its previous content-centric future strategy, AT&T Communications CEO Jeff McElfresh said the phone giant has “historically been complicated. It’s hard to understand AT&T’s future. Well, maybe I can clear it up here. We intend to be the nation’s premier broadband connectivity provider, period.”

AT&T-Warner Fallout Shows Hollywood Business Is Complicated

An abrupt landing to a turbulent trip comes with a familiar message: Buying into the content business is hard

WarnerMedia And Discovery Mega-Deal Leaves Rival Studios Scrambling To Get Bigger

Bankers are already starting to salivate over what other megadeals could be in the offing following this week’s surprise pair-up of WarnerMedia and Discovery. AT&T’s desperation to drop a company that it spent $85.4 billion and a year and half in legal fights to acquire raises the immediate question of what else might be possible in an era when Wall Street is pressuring big media conglomerates to keep generating content for audiences hungry to stream their favorite dramas and comedies. (Illustration: Cheyne Gateley for Variety)

Makan Delrahim, DOJ Antitrust Chief Who Challenged AT&T-Time Warner Merger, Takes Different View Of WarnerMedia Spinoff

Makan Delrahim, who as the Justice Department’s antitrust chief during Donald Trump’s administration challenged AT&T’s combination with Time Warner, has a different view of the planned spinoff of WarnerMedia. “I wish both companies and Mr. Zaslav and Mr. Stankey the best,” Delrahim said, referring to David Zaslav, the CEO of Discovery, and John Stankey, the CEO of AT&T.

AT&T-Discovery Merger Opens Door To New Jeff Zucker Era

Sources say Jeff Zucker may drop his plan to leave CNN at year’s end and instead remain head of the network, as a result of the massive merger of AT&T-Discovery media assets announced Monday morning. Driving the news: Nothing has been decided. But absent this tectonic media shift, Zucker — who’s chairman, WarnerMedia News and Sports, and president of CNN Worldwide — was gone. Now, the door is open for him to stay.

AT&T’s WarnerMedia And Discovery To Merge, Create New Company Led By David Zaslav

AT&T and Discovery Monday announced a definitive agreement to combine WarnerMedia’s  premium entertainment, sports and news assets with Discovery’s leading nonfiction and international entertainment and sports businesses to create a premier, standalone global entertainment company led by Discovery CEO David Zaslav. Under the terms of the agreement, which is structured as an all-stock transaction, AT&T would receive $43 billion in a combination of cash, debt securities, and WarnerMedia’s retention of certain debt, and AT&T’s shareholders would receive stock representing 71% of the new company; Discovery shareholders would own 29% of the new company.

Why Some On Wall Street Want AT&T And Comcast To Spin Off Media Units

The conglomerates, whose biggest financial contributors are telecom assets, continue to bet on the benefits of owning content and distribution businesses, but “pure-play” companies have gained investor favor.

AT&T To End ‘Data Free TV’

AT&T says it will discontinue its controversial “Data Free TV” program, which exempted some video streams from subscribers’ data caps, as a result of the recent court ruling upholding California’s net neutrality law. That state law, passed in 2018, prohibits carriers from blocking or throttling service, charging higher fees for prioritized delivery, and from exempting their own content from subscribers’ data caps.

AT&T To Launch Ad-Supported HBO Max In June

AT&T has set June for the launch of its ad-supported HBO Max option. The WarnerMedia parent company also updated its subscriber forecasts. They’re now much higher. The company now expects 120-150 million worldwide HBO Max and HBO subscribers by the end of 2025.

AT&T To Spin Off DirecTV In $7.8B Deal

AT&T will spin off its video business including DirecTV into a new company in a deal with TPG, which acquired 30% of the new company. The agreement values the forthcoming company, known as New DirecTV, at $16.25 billion. Under the terms of the transaction, New DirecTV will be jointly governed by a board with two representatives from each of AT&T and TPG, as well as a fifth seat for the CEO, which at closing will be Bill Morrow, CEO of AT&T’s U.S. video unit. Following the close of the transaction, AT&T will own 70% of the common equity and TPG will own 30%.

AT&T Nears Deal To Sell Large Minority Stake In DirecTV, U-verse

AT&T is nearing a $15 billion deal to sell a substantial minority stake in its DirecTV, AT&T TV Now and U-Verse business to private equity firm TPG, according to people familiar with the matter. A deal could be announced as soon as this week, said the people, who asked not to be named because the discussions are private.

AT&T And Cox Settle Before Super Bowl

The multiyear deal covers 26 Cox Media Group-owned stations in 20 markets across DirecTV, AT&T TV and U-verse video services.

AT&T Takes $15.5B Charge On DirecTV — What Does It Mean?

Randall Stephenson Becomes AT&T Consultant, Steps Down As Executive Chairman

The former AT&T chairman and CEO moves closer to his final exit from the telco giant with a one year, $1 million consultancy deal.

Buyout Firm TPG In Lead For DirecTV Stake

Private equity firm TPG has entered into exclusive talks to acquire a minority stake in AT&T’s satellite TV division, DirecTV, in a deal that would allow the U.S. wireless carrier to trim its net debt of close to $150 billion, people familiar with the matter say.

Fuse Announces A Georgia Senate Election Town Hall. But Will AT&T Pull The Plug?


AT&T’s Reluctance To Sell DirecTV Is A Red Flag

AT&T should take the lowball offer, streamline its business and learn from its mistakes.

CWA Supports Fuse Media’s Discrimination Complaints Against AT&T

AT&T Disappointed With DirecTV Offers

AT&T’s attempt to unload ­DirecTV has been thrown into doubt, as the telecom giant has signaled it’s unhappy with the offers it has received for the struggling satellite TV service. Earlier this month, AT&T pushed back a deadline for final bids for DirecTV into January — and told prospective bidders it may cancel the auction altogether if it doesn’t get better offers, according to sources close to the situation.

AT&T And Tegna Reach Retrans Agreement

The multi-year deal covers 64 Tegna-owned Stations in 51 markets across the DirecTV, AT&T TV and U-verse video services.

Fuse Media: AT&T Discriminated Against It

Fuse Media has filed a complaint with the FCC charging that AT&T and its DirecTV unit are illegally discriminating against it in carriage negotiations and that AT&T’s behavior could drive Fuse into bankruptcy.

AT&T Selling Crunchyroll To Sony For $1.2B

WarneMedia parent AT&T is selling its Crunchyroll anime business to Funimation Global Group — a venture of Sony Pictures Entertainment and Sony Music Entertainment, for $1.175 billion in cash. Fast-growing Crunchyroll is a premier anime direct-to-consumer service within AT&T’s WarnerMedia segment with over 3 million SVOD subscribers. It serves 90 million registered users across more than 200 countries and territories offering AVOD, mobile games, manga, events merchandise and distribution.

AT&T Fields DirecTV Offers Over $15 Billion

AT&T received bids for its DirecTV unit valuing the satellite TV service at more than $15 billion including debt, with Michael Klein’s blank-check company among the bidders.

Who’s Behind The Fight Between Warner Bros. And Hollywood? It’s AT&T

The town is mad about the studio’s decision to put movies on HBO Max and in theaters at the same time. But with a telecom giant running an entertainment company, things were bound to get weird.

AT&T Chief Defends HBO Max Movie Strategy

AT&T CEO John Stankey asserted Tuesday that the release of Warner Bros.’s full 2021 movie slate on HBO Max and in theaters at the same time will be a “win-win-win” — for WarnerMedia, consumers and partners. Stankey acknowledged the backlash AT&T and WarnerMedia have faced from theater owners and others, including vitriol from filmmaker Christopher Nolan.

Former FCC Chief Bill Kennard New AT&T Chair

WarnerMedia parent AT&T today named former FCC Chairman William Kennard chairman of the telecom giant’s board effective in January when current chair (and former CEO) Randall Stephenson retires.

Churchill Capital Eyes AT&T’s DirecTV Stake

A blank-check company backed by former Citigroup Inc. rainmaker Michael Klein is among the parties interested in buying a stake in AT&T Inc.’s DirecTV satellite-television business, according to people with knowledge of the matter. Churchill Capital Corp. IV, which raised $2.07 billion in July, is working with advisers on a potential bid for the asset, the people said, asking not to be identified because the discussions are private.

AT&T Weighs Selling Minority Stake In Pay TV

AT&T is considering selling significant minority stake in DirecTV, AT&T Now and U-Verse pay-TV operations. Final bids are due in early December, sources say. A deal could value DirecTV at less than $15 billion after AT&T acquired it for $67 billion plus debt about five years ago.

CNN’s Zucker Faces What Might Be His Last Lap

Under AT&T, CNN chief Jeff Zucker felt blindsided by a recent overhaul of WarnerMedia that slimmed down his role. The 55-year-old’s contract expires next year and he hasn’t committed to extending his deal in meetings with WarnerMedia brass and communications with CNN employees, people familiar with the situation say.


AT&T Takes Hit, But Tops Rev Expectations

AT&T Inc on Thursday reported the coronavirus pandemic had taken a heavy toll on its media business, but quarterly results were offset by stronger than expected gains in new phone subscribers lifted by offers for its HBO Max streaming service for free on certain phone plans.

AT&T Officially Announces In-Car Streaming

AT&T has officially launched its in-car video streaming service WarnerMedia Ride, offering it free to owners of 27 vehicle brands who have AT&T unlimited data connected car service. Ride will include news, sports and entertainment programming from brands including Bleacher Report, Boomerang, Cartoon Network, CNN, TBS, TNT and more. AT&T also plans to offer HBO Max on qualifying data plans next year.