Stories
Slash Boxes
Comments

SoylentNews is people

posted by martyb on Saturday October 14 2017, @02:55PM   Printer-friendly
from the cut-it-out! dept.

A day after DirecTV parent AT&T said it would lose subscribers because people are ditching their satellite and cable television services — a phenomenon known as cord-cutting — shares of companies heavily invested in the TV industry tumbled.

Shares of AT&T, the culprit in Thursday's sell-off, dropped 6 percent, dragging shares of its presumed merger partner, Time Warner, down 2 percent in the process.

AT&T said in a regulatory filing that in the recently ended quarter it would report gaining 300,000 subscribers to its over-the-top digital service while losing 390,000 traditional TV subscribers, for a net loss of 90,000 subs.

While it cited several causes — including hurricanes and changing its credit standards for new customers — it was this line in the filing that Wall Street keyed on: "The video net losses were driven by heightened competition in traditional pay TV markets and OTT services ..."

Bet somebody at AT&T got fired today...


Original Submission

 
This discussion has been archived. No new comments can be posted.
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
  • (Score: 0) by Anonymous Coward on Sunday October 15 2017, @12:09AM

    by Anonymous Coward on Sunday October 15 2017, @12:09AM (#582445)

    Crap like that should never be in the same sentence as tv/entertainment/etc. That tells more about the problems we are having than many things can.