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President Donald Trump doesn’t have a vendetta against CNN — he has one against all media outlets that do adversarial coverage, says John Stankey, who oversees CNN in his role as WarnerMedia CEO.
This weekend's Barron's cover story ponders the significance of M&A in the financial sector. Other featured articles focus on recent moves by the Oracle of Omaha. Also, the prospects for a heavy equipment ...
AT&T;* today announced that AT&T; Mobility has reached a tentative agreement with Communications Workers of America District 6 in Mobility Southwest (or Mobility Purple) contract negotiations.
The abandonment of a show as big as Mobile World Congress stings economically for the host city, mobile industry and entrepreneurs from across the globe who attend in hopes of doing deals. And it could just be the beginning.
Two seemingly different issues — the ongoing 5G network rollout and the coronavirus — are causing confusion and disappointment for many tech investors this earnings season so far and they are now becoming intertwined.
Scientists are excited about the potential for artificial intelligence, improved connectivity, and other technological advancements to make robotic surgery more accurate and accessible.
(Bloomberg) -- The White House plans to hold a conference with Huawei Technologies Co. rivals to try to accelerate development of affordable competing 5G wireless technology, President Donald Trump’s top economic adviser said Friday.“We’re working carefully, closely with Nokia and Ericsson,” National Economic Council Director Larry Kudlow told reporters. “We’re going to be holding some kind of a conference in about a month. I’m sure the president would join us in part, that would include Samsung, that will include all of our guys.”He later told Fox Business that the meeting “might take place” in early April, and that companies including AT&T Inc., Verizon Communications Inc. and Qualcomm Inc. would be represented.The U.S. has engaged in a campaign to persuade other countries not to use Huawei equipment in emerging 5G networks, but the effort has faltered due to a lack of competing technology. Attorney General William Barr suggested recently the U.S. government or American companies should consider investing in Huawei competitors Nokia Oyj of Finland and Ericsson AB of Sweden to try to prevent the Chinese company’s technology from being widely adopted.Kudlow called the U.K. government’s attitude toward Huawei in particular “sub-optimal.” Trump has spoken repeatedly this month with British Prime Minister Boris Johnson, berating him in at least one phone call for refusing to ban Huawei gear.“They have made some concessions about putting the lid on Huawei, but I’m an optimist, I believe we can work through it, they are our great allies,” Kudlow said.The U.S. alleges that the Chinese government will use equipment from the Shenzhen-based company to spy on nations that install it in their networks. Huawei has denied that the Chinese government controls the company or has access to its products.(Updates with details of conference in third paragraph. An earlier version corrected a misspelling of Huawei in the first paragraph.)\--With assistance from Jennifer Jacobs.To contact the reporter on this story: Josh Wingrove in Washington at firstname.lastname@example.orgTo contact the editors responsible for this story: Alex Wayne at email@example.com, John Harney, Virginia Van NattaFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
WarnerMedia is reuniting its "Friends" cast for an untitled, unscripted special for its upcoming streaming service, HBO Max, the company said on Friday. AT&T Inc's WarnerMedia said https://pressroom.warnermediagroup.com/na/media-release/hbo-max/one-where-they-got-back-together series stars Jennifer Aniston, Courteney Cox, Lisa Kudrow, Matt LeBlanc, Matthew Perry and David Schwimmer will return to the hit comedy's original soundstage, Stage 24, on the Warner Bros studio lot in Burbank, California.
AT&T’s John Stankey, one of the world’s most powerful media executives, weighs in on 5G, HBO Max, the fate of DirecTV, and why having quality content is more important than connectivity speed.
(Bloomberg) -- T-Mobile US Inc. and Sprint Corp. agreed to new terms for their pending merger that take account of the slide in Sprint shares since the transaction was first agreed, putting the industry-altering deal a step closer to completion.T-Mobile owners will get roughly 11 shares of Sprint for each of their stock, the companies said Thursday. That’s an increase from a ratio of 9.75 previously and is more favorable for T-Mobile’s German owner Deutsche Telekom AG.The equity value of the amended deal is about $37 billion compared with the original agreement of $26.5 billion, according to Bloomberg Intelligence analyst Erhan Gurses. The higher valuation partly reflects the 62% gain in T-Mobile shares since the all-stock transaction was announced almost two years ago, despite the deterioration in Sprint’s business.Getting one of the biggest U.S. wireless mergers ever over the finish line would be a boon for Deutsche Telekom as it will reduce its reliance on Europe, where carriers are struggling to grow amid fierce competition. T-Mobile makes up more than half of Deutsche Telekom’s sales, up from about a third in 2014. A completed deal will also benefit Sprint owner SoftBank Group Corp. by allowing its chairman, Masayoshi Son, to better focus on his technology investments and the $100 billion Vision Fund.The combined company, which will operate under the T-Mobile name, will have a regular monthly subscriber base of about 80 million -- in the same league as AT&T Inc., which has 75 million subscribers, and Verizon Communications Inc., which has 114 million.When the transaction closes, which could happen as soon as April 1, Deutsche Telekom is expected to keep 43% of the merged entity, while SoftBank has 24%. The rest will be held by public shareholders.Deutsche Telekom shares fell 1.3% to trade at 16.41 euros in Frankfurt. Sprint shares were up 5% to $9.96 at 11:01 a.m. in New York, while T-Mobile was down 1.8% to $97.73.The original accord, which united the third- and fourth-largest U.S. wireless carriers, was forged in April 2018. That pact lapsed on Nov. 1, and the companies didn’t initially renew the terms while they fought for government approval. When a federal judge rejected a state lawsuit to block the transaction earlier this month, that put the talks on the front burner.Along the way, Sprint’s condition has worsened. That added pressure to redraw the agreement so that it was more favorable to Deutsche Telekom.SoftBank agreed to surrender 48.8 million T-Mobile shares that it will acquire in the merger to the combined company immediately after the transaction closes. But those shares could be reissued to SoftBank by 2025 if the new company’s stock stays above $150 for a period of time.That arrangement -- having SoftBank relinquish the stock after the deal closes -- was structured so that the deal wouldn’t have to go before another shareholder vote.Sprint investors other than SoftBank will still get the original ratio of 0.10256 T-Mobile shares for each Sprint share -- the equivalent of about 9.75 Sprint shares for each T-Mobile share.Sprint’s monthly churn -- a closely watched measure of how many customers leave -- has risen to nearly 2%. That means roughly a quarter of its subscriber base is quitting the carrier each year. And the company isn’t making up for the decline by charging more: Average revenue per customer has fallen 5% since the deal was announced.Analysts such as LightShed Partners’ Walt Piecyk said the merger’s exchange ratio should be closer to 12, given Sprint’s deteriorated business.(Updates with valuation detail in third paragraph, updates share prices.)To contact the reporters on this story: Scott Moritz in New York at firstname.lastname@example.org;Stefan Nicola in Berlin at email@example.comTo contact the editors responsible for this story: Nick Turner at firstname.lastname@example.org, Jennifer RyanFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
In a newly released interview, AT&T President and COO John Stankey says he’s “really concerned about the concentration of economic power” in big tech companies and how they approach their “platforms’ influence on society.”
AT&T is the latest major tech company to pull out of the cybersecurity event on concerns about the potential spread of novel coronavirus.
WarnerMedia and YouTube TV today announced a distribution deal that will bring HBO and Cinemax to the Google-owned live TV streaming service for the first time as well as, notably, WarnerMedia's new service HBO Max, set to launch this spring. Alternately, they'll be able to opt for HBO Max's expanded streaming service instead.
Verizon built its powerful brand around the quality of its wireless network. If Verizon stock is going to retain bragging rights with 5G wireless services, it's going to need more bandwidth.
Fundamental and technical analysis raise issues in buying Verizon stock, usually a dividend play. Potential 5G wireless growth and T-Mobile's purchase of Sprint also matter for VZ stock.
Investors looking for income from their investments generally want that income to be paid regularly throughout the year, suggests Beth Piskora, vice president of editorial at CFRA Research in the firm's industry-leading newsletter The Outlook.
FiscalNote continues to have a strong product line, but it faced some financial struggles in 2019, according to several sources familiar with the company. Here's what its founder and CEO says is next for the D.C. startup.
T-Mobile stock popped following a federal judge's ruling approving the Sprint merger. Here is what fundamental and technical analysis says about buying T-Mobile ahead of the merger closing.
The merger between T-Mobile US and Sprint is within reach, the head of its main owner Deutsche Telekom said, forecasting that the combined business would quickly close a valuation gap on market leaders AT&T and Verizon. Highlighting the positive market reaction after a New York judge last week dismissed a lawsuit brought by more than a dozen U.S. states trying to block the deal, CEO Tim Hoettges said the 'new' T-Mobile would have a market value of around $120 billion.