AT&T’s decision to acquire a declining DirecTV in 2015 and a bloated WarnerMedia in 2018 were massive miscalculations. Desperate to pay down its debt, in March 2021, AT&T announced it would sell a 30% stake in DirecTV.
A Federal Judge ended the Paramount decrees that ceased Hollywood’s monopoly on producing, distributing, and exhibiting films citing the move would “serve the public interest in free and unfettered competition.”
AT&T is desperate to sell some or all of DirecTV to pay down its $180 billion mountain of debt. According to inside sources, the satellite service is being offered at a $20 billion valuation, marking a $29 billion loss since 2015.
The Department of Justice in the United States is preparing to allow Hollywood studios to own film theaters once again. This decision would reverse 70 years of anti-trust law that was implemented in 1948, which is known as the Paramount decrees.
AT&T’s WarnerMedia released details about its forthcoming streaming service HBO Max, which will officially launch in May 2020. The service will cost $14.99 a month, the same cost as HBO’s flagship service.