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HBO Max in, Stephenson out – unless AT&T CEO agrees to DirecTV sale

Headline writers the world over are fast running out of sensationalisms to describe the torrid state of affairs at AT&T. Video subscriber losses totaled 1.36 million in the third quarter, with the operator out-doing Q2’s 956,000 cancellations. Predictably, the company’s subsequent WarnerMedia day quickly glossed over the widening cracks as the spotlight was again diverted to HBO Max, as well as the strong insinuations that Randall Stephenson’s days are numbered. AT&T projects an ambitious 50 million domestic HBO Max subscribers over 5 years, on top of between 75 million to 90 million across the US, Europe and Latin America by the end of 2025. The initial plan is to invest between $1.5 billion and $2 billion in the streaming service…

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