Brian Cates - Political Columnist, [21.05.21 20:28]

AT&T just dumped Time Warner. What makes that news to me? The fact that AT&T paid $85.4 billion dollars for Time Warner just 4 years ago. They just sold it for $43 billion. That's a drop in value of over 50% since 2018. CNN. HBO. Warner Brothers. DC Comics...it's all going down the tubes. H/T:@Josephdickerson at QV.
Now, they tell you they don't care about the ratings. "Ratings?! HA! We don't care about our shitty ratings or our low ticket sales or whatever!" But their STOCKHOLDERS DO. And pain is coming.
Time Warner bleeding about 10-15% a year, ok they could manage that. IF they turned it around. But after 4 years, the writing is on the wall. A 50+% loss of value meant eating a $41 billion loss and AT&T has to explain that to the shareholders.
Shareholders don't care about ideology. They care about their stock earnings. Which is why AT&T had to dump Time Warner now before a $41 billion loss turned into a $50 billion l