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AT&T Gives ‘Software-Driven Entertainment’ Pitch to Wall Street After Unloading DirecTV,

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variety.com
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Cynthia Littleton Business EditorAT&T has refined its pitch to Wall Street on the rationale for owning WarnerMedia.As it approaches the third anniversary of completing its $85.4 billion acquisition of Time Warner, the telco giant held an Investor Day presentation Friday morning that was long on talk of “software-based entertainment” and global subscriber predictions for the next four years.

But there was little discussion of the linear Turner networks or the pathbreaking advanced advertising deals that were once billed as driving growth for TNT, TBS, CNN et al as well as AT&T’s DirecTV.Today, AT&T is in the process of unloading a 30% stake in DirecTV to help get the satcaster’s slumping performance off of AT&T’s books.

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