Can Hollywood's Biggest Media Companies Avoid Getting Crushed by Debt?January 15, 2019 – Article
Randall Stephenson, AT&T’s chairman-CEO, summoned all of his folksy Oklahoma earnestness as he made an enthusiastic pitch to Wall Street analysts about the telephone
company’s bold efforts to transform itself into a multimedia powerhouse.
It was late November, less than six months after AT&T had wrapped up its $85 billion acquisition of Time Warner. But before Stephenson could wax poetic about his plans to revitalize HBO, Warner Bros. or other newly acquired AT&T subsidiaries, he felt compelled to address the elephant in the room. ¶ “If you hear nothing else this afternoon, I want you to hear me on this,” Stephenson said at the company’s investor presentation in New York.