Facing pressure from an activist hedge fund investor, AT&T said today that in addition to adding new board members, the company would divest up to $10 billion of assets in 2020 by skleb1234
to improve revenue and profit over the next three years, hoping to fully pay off the debt from last year’s $80 billion purchase of Time Warner.
CEO Randall Stephenson will stay on through 2020, AT&T announced, but once he retires, the roles of chairman and CEO would be split., a response to Elliot Management’s calls for new blood in AT&T’s management structure.from a wireless phone company into a major media behemoth: It now owns a large part of Hollywood and has plans to get involved in the streaming wars. The company’s big acquisition in that space was WarnerMedia , which owns CNN, the Warner Bros. movie studio and HBO.
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