AT&T stock price has risen by 4.6% over the last 30 days
AT&T is an American multinational conglomerate and the world’s largest telecommunications company. AT&T stock trades on the New York Stock Exchange under the ticker T and represents shares in the company.
AT&T previously acquired brands including CNN, HBO, and Warner Bros as part of a $108.7 billion purchase of Time Warner in 2018, and now T has seen a trading volume of 171.3M today as traders react to recent news of the company’s latest merger with Discovery.
To put this into perspective, AT&T stock price has risen by 4.6% over the past 30 days.
Where can I buy AT&T stock (T)?
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What is AT&T?
The joint company will be led by Discovery’s president and Chief Executive David Zaslav. AT&T will receive $43 billion under the terms of the deal, and AT&T shareholders will own 71% of the new company, with Discovery shareholders owning 29%.
AT&T Chief Executive John Stankey said of the deal, “This agreement unites two entertainment leaders with complementary content strengths and positions the new company to be one of the leading global direct-to-consumer streaming platforms. It will support the fantastic growth and international launch of HBO Max with Discovery’s global footprint and create efficiencies which can be re-invested in producing more great content to give consumers what they want.”
How is T different from NFLX?
AT&T has some similarities with Netflix, as both are leading providers of streaming services, but is different because the two have different outputs and subscribers.
Netflix currently has about 208 million subscribers worldwide, while the WarnerMedia-owned HBO and HBO Max have just 64 million. However, subscribers to AT&T’s media empire could be about to rise significantly as the Discovery Channel reaches more than 88 million homes in the US, and its recently-launched streaming service, Discovery+, has 15 million subscribers. What’s more, NFLX plunged last month over fears that Netflix’s pandemic-inspired boom could be over.