By Elaine Low Senior TV Writer The announcement Friday that AT&T CEO Randall Stephenson would be handing over the reins of the major telecom and media company, after 13 years at the helm, took industry watchers by surprise.
But longtime lieutenant John Stankey’s assumption of the role at the start of July means that the changing of the guard — however unexpected — doesn’t point to much of a shift in the strategic direction of AT&T as it attempts to enter the highly competitive direct-to-consumer streaming entertainment market. “It almost by definition doesn’t change anything,” says MoffettNathanson equity analyst Craig Moffett of the leadership transition. “Staying the course means you’re still going to try to create the modern media
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