“We’re focused on looking forward,” he said. “We’re coming up soon on a big transition at AT&T: a more focused company, a more focused management team, a commitment to being the best with our resources aligned with that goal.”
“We’ve been positioning ourselves for this reality,” Stankey added, alluding to the spinoff of DirecTV and the imminent spin of WarnerMedia into a merged entity with Discovery.
The $43 billion Warner-Discovery deal is expected to close next month. Last year, AT&T completed the spin of DirecTV into a stand-alone unit 30%-owned by private equity firm TPG.
“After retrenching from entertainment, we have more work to do to differentiate our connectivity,” he said. “We’re not talking about transformative M&A here. Instead, we’re focused on developing software and capabilities that lay on top of our network and optimize our connectivity value proposition.”
Quite possibly the worst CEO in America, although Bob Chapek has also been in the running of late!
There is no reason for him to still have a job. He’s burned a fortune and didn’t even really try to to innovate or do anything different with either business. Just literally set money on fire. Anyone else would have been kicked out the door a long time ago.
The board’s failure of fiduciary responsibility is stunning, How on earth does this man still have a job?
Wanting to be entertainment companies and entertainment companies wanting to become tech companies. It’s a vicious cycle that always ends up in the same place. GE learned that lesson first hand… and some say the hard way. It’s amazing that while the rich tech giants get even more wealthy that there has been no trickle down to the writers, producers, directors, below the line folks and talent who all have helped build that wealth…
well thanks for destroying a Hollywood studio on your way out, ja----s
What Was The Point?