AT&T Stock Rises Amid Positive Signs For WarnerMedia-Discovery Deal Review, Strong Streaming And Wireless Growth
deadline.comAT&T’s beaten-down stock has risen 4% today to reach a three-month high on strong subscriber numbers and auspicious signs for the pending WarnerMedia-Discovery deal.The $43 billion combination of WarnerMedia and Discovery in a spinoff from AT&T less than three years after its purchase of Time Warner, is likely to close in April, CNBC reported.
The network’s David Faber, citing sources close to the process, said the transaction “is only a couple, let’s call it three months away from completion.”A 4% uptick is rare for the range-bound stock, which is approaching $27 a share for the first time since last October.
Along with Discovery shares, it has lost ground since the deal was first announced.AT&T and Discovery have consistently estimated a mid-year close. “Could it accelerate and happen earlier?
It’s entirely possible,” AT&T CEO John Stankey said during an appearance at a Citibank investor conference. “It could also possibly slip.
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