AT&T bows to pressure from activist investor, may sell ailing DirecTV unit

Mere weeks after activist investor Elliott Management publicly pressed AT&T to slash costs and dial down its acquisitions strategy, it appears as if Chairman-CEO Randall Stephenson has knuckled under to those demands. Speaking today on AT&T’s third-quarter earnings call, Stephenson laid out a three-year plan that includes a pledge to conduct a comprehensive review of all non-essential businesses that may be be sold or spun off, while also making a commitment to retire all the debt related to its $85 billion acquisition of Time Warner. Stephenson also said that he plans to stay aboard through at least 2020. This is particularly important, as speculation that he was about to hand the reins to WarnerMedia boss John Stankey may have been one of the factors that precipitated Elliott’s decision to put the squeeze on the AT&T board. “I believe we’re on the threshold of something really remarkable, in terms of the next chapter of AT&T’s storied history,” Stephenson said. “I have every intention of being here, and I will be here through 2020.” Stephenson added that when the time comes for AT&T to choose his successor, the CEO and chairmanship positions will be made separate, a split for which Elliott advocated in its Sept. 9 letter to the board. Stankey, who recently was upped to chief operating officer at AT&T, remains the heir apparent. “Following five-plus years of heavy investment, it’s now time to reap the rewards of these investments and deliver... Continue reading at 'Advertising Age'

[ Advertising Age | 2019-10-28 20:32:03 UTC ]
News tagged with: #streaming services #investment fund #hbo max #unique position #time warner

Other Publishing stories related to: ' AT&T bows to pressure from activist investor, may sell ailing DirecTV unit '


AT&T bows to pressure from activist investor, may sell ailing DirecTV unit

Mere weeks after activist investor Elliott Management publicly pressed AT&T to slash costs and dial down its acquisitions strategy, it appears as if Chairman-CEO Randall Stephenson has knuckled under to those demands. Speaking today on AT&T’s third-quarter earnings call, Stephenson laid... Continue reading at Advertising Age

[ Advertising Age | 2019-10-28 20:32:03 UTC ]
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Audible bows to pressure and changes returns policy

Audible has announced changes to its returns policy, following an open letter signed by over 10,000 authors and industry representatives demanding that it do so.  Continue reading at The Bookseller

[ The Bookseller | 2020-11-24 18:12:01 UTC ]
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Olin expands board to add activist investor's picks

Olin Corp. said Monday that it has added two directors to its board as part of a new agreement with activist investor Sachem Head Capital Management LP, which owns about a 9.5% interest in the chemical manufacturer. Olin said Scott Ferguson, Sachem Head's founder and managing partner, and... Continue reading at Silicon Valley Business Journal

[ Silicon Valley Business Journal | 2020-03-02 17:51:21 UTC ]
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Report: EBay seeking bids for Classifieds Group at activist investors' urging

EBay Inc. is making plans to sell its international classifieds arm, eBay Classifieds Group, the Wall Street Journal reported Friday, citing unnamed sources. According to the Journal, Classifieds could be worth around $10 billion. The private equity firms TPG and Blackstone Group Inc., as well... Continue reading at Silicon Valley Business Journal

[ Silicon Valley Business Journal | 2020-02-21 21:52:59 UTC ]
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AT&T makes changes in response to activist investor push

AT&T will review its portfolio for assets it can sell off, pay down debt related to its Time Warner acquisition and add 2 board members as part of a plan to boost results Continue reading at ABC News

[ ABC News | 2019-10-28 15:17:23 UTC ]
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Circle Media Group sells CPI to private investor

Circle Media Group has sold its interest in one of Europe’s largest book printers, CPI, to a private investor, after less than nine months of ownership.  Continue reading at The Bookseller

[ The Bookseller | 2019-04-10 00:00:00 UTC ]
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United Airlines sells a cookbook inspired by onboard meals

Airline food is often the subject of stand-up comedy bits, but that hasn’t stopped United Airlines from publishing a cookbook inspired by dishes served in the carrier’s high-end, business-class section, Polaris. Polaris is the exclusive section at the front of the plane where fliers get comfy... Continue reading at Los Angeles Times

[ Los Angeles Times | 2018-12-28 00:00:00 UTC ]
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UNITE 2018: CBA, Investor Team Up to Revitalize Industry

UNITE 2018, the annual international convention hosted by the Association for Christian Retail, took place in Nashville, Tenn., from July 8-11, sharing news of a large investment designed to change the industry. Continue reading at Publishers Weekly

[ Publishers Weekly | 2018-07-12 00:00:00 UTC ]
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Meet The New Breed Of Activist Investors Who Are Trying To Give Silicon Valley A Conscience

Arjuna Capital, which went to Facebook’s and Google’s recent shareholder meetings with proposals for gender equity disclosure, is the most visible of these firms. Last Thursday, hundreds of Facebook shareholders at the company’s annual meeting in Menlo Park, California listened politely as top... Continue reading at Fast Company

[ Fast Company | 2017-06-09 00:00:00 UTC ]
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Bowing to Pressure, Scholastic Recalls Children’s Book Accused of Being Racist

Scholastic has halted distribution of A Birthday Cake for George Washington amid criticism of the book's sugar-coated portrayal of slavery. The post Bowing to Pressure, Scholastic Recalls Children’s Book Accused of Being Racist appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives

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It's time for Alberta's United Conservative Party to focus on uniting following leadership review

One of the first steps of healing the divisions within the United Conservative Party is to welcome MLAs Todd Loewen and Drew Barnes back into the fold, says Michael Solberg. Continue reading at CBC

[ CBC | 2022-05-25 10:00:00 UTC ]
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Google AMP beat Facebook Instant Articles, but publishers start to question AMP’s benefits

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[ Digiday | 2018-08-23 00:00:00 UTC ]
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How News Corp is uniting 10 business units and 25,000 employees in a global IT push

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[ PC World | 2015-10-03 00:00:00 UTC ]
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Ursula K Le Guin launches broadside on Amazon's 'sell it fast, sell it cheap' policy

Fantasy author accuses the online giant of using its market dominance ‘to control what we write and what we read’The grande dame of fantasy Ursula K Le Guin has weighed in forcefully to the debate about Amazon’s role in publishing. In a blogpost on the site Book View Cafe, entitled “Up the... Continue reading at The Guardian

[ The Guardian | 2015-06-03 00:00:00 UTC ]
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In the Arab World Islam Sells in “P,” Unorthodox Sells in “E”

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The Books Women’s Rights Activists Recommend Your Children Read

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79-unit residential project planned for Tribeca site with unloved tower

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[ Crains New York | 2024-03-04 18:30:46 UTC ]
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Comics Industry Unites Against Headwinds at ComicsPro 2024

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KKR Is in 'No Hurry' to Sell Simon & Schuster

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[ Publishers Weekly | 2024-02-15 05:00:00 UTC ]
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