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AT&T Commits $2B To Extend Low-Cost Broadband Access To Underserved Communities

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Anusuya Lahiri
·1 min read
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  • AT&T Inc (NYSE: T) announced a billion investment over the next three years to extend affordability, educational resources, and economic opportunity to broadband-deprived Americans.

  • The initiative builds on the company's $1 billion investment over the last three years aimed at the weaker communities.

  • AT&T continued to offer discounted wireless solutions to over 135,000 public and private K-12 schools, colleges, and universities. The company provided qualifying households with wireline internet service at $10 or less per month.

  • The eligible customers could temporarily reduce their monthly broadband costs through the Federal Emergency Broadband Benefit (EBB). AT&T offered over 30 million eligible households an additional broadband subsidy of up to $50 a month.

  • AT&T held $9.74 billion in cash and equivalents as of Dec. 31, 2020.

  • Price action: T shares traded higher by 0.54% at $29.79 on the last check Wednesday.

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