AT&T: Last News

Editors Note: As chairman/CEO of Fox Filmed Entertainment in the era of Titanic, X-Men, Independence Day and Braveheart, and producer of the Oscars and Oscar-nominated films like Hacksaw Ridge and Coraline, Bill Mechanic has been part of the fabric of the film industry his whole career. He thought he had seen every iteration and change in a business striving to stay relevant in the digital age. The surprise move by WarnerMedia to drop its entire 2021 film slate on HBO Max was a new one on him, and one he thinks can do lasting damage to the traditions of a billion-dollar industry. Here, he explains why.

Todd Spangler NY Digital EditorAT&T CEO John Stankey asserted 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 criticism that AT&T and WarnerMedia have faced from theater owners: “I know there’s a lot of noise out in the market, people with different viewpoints.” He added, “Anytime you’re going to change a model, it’s going to create a degree of noise.”But the AT&T chief, speaking Tuesday at the UBS Global TMT Virtual Conference, said that in light of the ongoing COVID pandemic and the unwillingness of consumers to go to theaters, WarnerMedia needed to find the best way to monetize the movie slate.

HBO Max, which closed the third quarter at 8.6 million activated subscribers in the U.S., has added another four million to reach 12.6 million, according to AT&T CEO John Stankey.

AT&T chief financial officer John Stephens is set to retire in March 2021 after 28 years with the telecom and media giant. WarnerMedia CFO Pascal Desroches has been tapped to succeed Stephens, effective April 1, 2021, and until then will serve as AT&T’s senior executive vp of finance.

Dade Hayes Finance EditorJohn Stephens will retire as CFO of AT&T next March, ending a 28-year run at the company, and will hand the reins to WarnerMedia CFO Pascal Desroches.The change is slated to take effect on April 1. It comes as AT&T continues to work to lower its debt load and steer WarnerMedia through a major restructuring effort.

Todd Spangler NY Digital EditorAfter 28 years with AT&T, CFO John Stephens plans to retire next March. The company named WarnerMedia CFO Pascal Desroches as the successor to Stephens, effective April 1, 2021.

The European Union has approved WarnerMedia parent AT&T's $1.1 billion sale of a majority stake in Central European Media Enterprises to Czech businessman Petr Kellner's PPF Group. AT&T, led by CEO John Stankey, had last year unveiled the plan to sell the holding to reduce its debt.

Actress Milana Vayntrub, best known for her role as Lily on the AT&T commercials, revealed she's been dealing with a slew of upsetting and inappropriate comments online. In an Instagram Live with her over 740,000 followers, Vayntrub addressed the sexual harassment.

Dade Hayes Finance EditorNFL Sunday Ticket, for more than 25 years a major driver of subscriptions to DirecTV, is now being offered by AT&T for streaming by non-subscribers.The availability is a first for the package on a broad national scale, but it applies only for viewers in certain ZIP codes in 29 U.S. markets, mostly corresponding with where NFL teams are based.

Gene Maddaus Senior Media WriterAMC Networks has filed a complaint with the Federal Communications Commission accusing AT&T of abusing its market power in order to unfairly advantage its own networks, HBO and TNT.Though much of the complaint is redacted, AMC appears to be complaining that AT&T is seeking to limit AMC’s ability to make its content available on digital platforms, such as Hulu and Amazon Prime.

Todd Spangler NY Digital EditorAT&T said sales for the second quarter of 2020 were lower across all of its segments because of the coronavirus pandemic. That included a 22.9% plunge in WarnerMedia revenue, which the telco said was partly due to lower content and ad sales related to COVID-19.WarnerMedia’s Q2 2020 operating revenue was $6.8 billion, down 22.9% year over year, with segment operating income contribution of $1.9 billion, down 18.4% versus the year-ago quarter.

Todd Spangler NY Digital EditorAT&T touted the “successful” launch of HBO Max — with the new service helping to boost overall HBO and HBO Max customers by 1.7 million over the first six months of 2020.As of June 30, 2020, AT&T’s WarnerMedia reported 36.3 million total U.S. subscribers to HBO Max and HBO, up from 34.6 million at Dec.

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AT&T has hired Ed Gillespie, the former chairman of the Republican National Committee and an aide to President George W. Bush, to serve as senior executive vp for external and legislative affairs.

WarnerMedia owner AT&T on Tuesday said it has struck a deal for a $5.5 billion loan, boosting its liquidity amid the coronavirus crisis. It also said it expects to be "sizing our operations to economic activity," a sign of possible layoffs or reduced investment amid the crisis.

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