AT&T Books $15.5 Billion Charge on DirecTV Unit—3rd Update
Provided by Dow Jones By Drew FitzGerald AT&T Inc. booked a $15.5 billion charge on its pay-TV business, reflecting the damage cord-cutting has taken on its DirecTV satellite unit even as the company's HBO Max streaming service's growth ramped up. The write-down created a fourth-quarter loss as the media-and-telecom giant weighs the potential sale of its pay-TV assets and executives focus their investments on newer technologies. The company reported quarterly revenue declines in its legacy video and WarnerMedia units, offsetting gains in its core wireless phone ...
Source: morningstar.com