Monday, November 29, 2021
68.1 F
Fort Worth

AT&T shares soar following Elliott investment

🕐 1 min read

AT&T shares soared Monday after activist hedge fund manager Elliott Management made a $3.2 billion investment and called for changes such as selling DirecTV and its Mexican wireless operations. The move comes as AT&T readies a streaming service following its $81 billion purchase of Time Warner. It plans to launch HBO Max in the spring of 2020 as more people cut the cord and move to streaming services. But Elliott said AT&T has yet to come

up with a “clear and strategic rationale” as to why it needs to own Time Warner. AT&T has said it wanted to own the media company so it could better compete with online rivals like Netflix and Hulu. AT&T, which owns DirecTV, claims about 25 million of the 90 million U.S. households that are pay TV customers. Elliott bought Barnes & Noble bookstores in June for $467 million. AT&T shares jumped to a nearly two-year high and closed at $36.79.

Related Articles

Our Digital Sponsors

Latest Articles

Fort Worth Business Press Logo
This advertisement will close in
Click here to continue to Fort Worth Business Press

Not ready to subscribe?

Try a few articles on us.

Enter your email address and we will give you access to three articles a month, to give us a try. You also get an opportunity to receive our newsletter with stories of the day.

This field is for validation purposes and should be left unchanged.

Get our email updates

Stay up-to-date with the issues, companies and people that matter most to business in the Fort Worth.

  • Restaurants
  • Technology
  • and more!

FWBP Morning Brief

FWBP 5@5

Weekend Newsletter

  • Banking & Finance
  • Culture
  • Real Estate