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AT&T Books $15.5 Billion Charge on DirecTV Unit – The Wall Street Journal

Legacy television unit weighs on conglomerate even as it adds HBO Max and phone subscribers

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AT&T Inc. booked a $15.5 billion charge on its pay-television business, reflecting the damage cord-cutting has taken on its DirecTV satellite unit even as the companys HBO Max streaming services growth ramped up.
The write-down created a fourth-quarter loss as the media-and-telecommunications giant weighs the potential sale of its pay-TV assets and executives focus their investments on newer technologies. The company reported quarterly revenue declines in its legacy-video and WarnerMedia units,…

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