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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...
(Score: 1) by Ethanol-fueled on Sunday October 15 2017, @12:53AM
In the mid-90's mainstream news media were still somewhat objective and believable. In the mid-90's educational TV was educational TV and not fake reality bullshit or social justice advocacy. In the mid-90's American Football was American Football and players behaved professionally on the field.
Mid 90's TV with its few channels and numerous commercials is vastly superior to current TV with more channels and no commercials, even disregarding price. But I didn't need to explain all this, because you implied that in your comment, right?