The worm believes that your post is not a separate person posting. He doesn't want to recognize the 'melting ice cube' purchase of DTV. More than one person can see that DTV will turn into an AOL rerun but the Worm and the blind squirrel at the helm will get run over by truck as DTV's market barrier collapses.
Verizon has arrived at radio specifications for 5G with expected commercial deployment beginning in 2017. 5G, DOCSIS 3.1 and G.fast etc all going to blow the data pipeline for streaming TV/video wide open and the convergence of ISP competition will then bring unlimited data plans with it. Pay TV bundling margins then implode and with it goes the cash flow in DTV biz. AT&T just getting pushed up by dividend chasers not bothering to DD the pay TV bundling industry that AT&T ignorantly bought into at its peak.
The Quote of the Decade will carry on the backs of the younger generations until the burden causes collapse. The baby boomer generation may end up being the generation that lead to the financial collapse of this great nation. Sad but true.
I would agree with this assumption as it begins to appear low interest rate environment outlook shifts to a longer outlook but will add the utilities and telcos are also being used as a hiding place during a time of global economic uncertainty, especially with Brexit adding some serious questions to long term outlook for the EU (possible fallout). However, those who blindly run to AT&T for yield and safety have likely not done their DD on the melting ice cube AT&T took on in DTV that will cause the P/E to increase because of declining DTV earnings. The golden years of monopolistic markets for pay TV bundling is at sunset. Numerous bandwidth boosting tech advancements and FCC rules being upheld will blow the doors open for new competition in TV bundling as well as ala carte delivery by content providers. The head squirrel couldn't have timed the DTV purchase any worse.