AT&T Eyeing Media Acquisitions as TV Ambitions Grow
Posted in: Uncategorized
AT&T has gone from a regional phone company to a national telecommunications powerhouse over the past decade. Its next big expansion will see it buying businesses to transform into a media and entertainment giant, according to people familiar with the plans.
Over the next three to five years, AT&T will seek deals to become a producer of programming, shifting its business model so that it owns some of the content it distributes, said the people, who asked not to be identified discussing the company’s strategy. The company’s targets include companies worth $2 billion to $50 billion, the people said.
Phone companies are trying to figure out their next steps for expansion as wireless growth flattens out and competition with cable providers remains intense. While its main rival Verizon has bet big on mobile advertising, AT&T is more focused on becoming a powerhouse in video programming.
Post a Comment