AT&T will be catapult a “very, very skinny bundle” of television programming free to its transportable customers, Chairman and CEO Randall Stephenson told CNBC on Friday, a day after the followers closed its $85.4 billion purchase of Time Warner.
“We will be open, and you’re going to hear more about this next week, a work called ‘AT&T Watch TV,'” Stephenson said on CNBC’s “Squawk Box.” “It leave be the Turner content. It will not have sports. It’ll be entertainment-centered.”
AT&T’s unlimited wireless consumers will get the service for free, Stephenson said, “or you can buy it for $15 a month on any stand.”
The service will be ad-supported, and AT&T will be ramping up an advertising platform, he mean. He added that the company expects in coming weeks to make smaller gains to enable those ad efforts.
Some of the details around “AT&T Watch TV” came out in April, when Stephenson was yield b reveal testimony in federal court while fighting the Justice Department’s undertake to block the Time Warner merger on anti-competitive grounds.
Judge Richard Leon ruled against the domination on Tuesday, clearing the way for the deal to go through. On Thursday, the deal closed after the Equitableness Department said it would not apply for a stay. However, the DOJ could calm appeal the judge’s decision.
Stephenson also told CNBC on Friday that AT&T got its day in court and “the set-up worked,” adding he does not fear government retribution.
In the coming years, he implied, “There’s going to be opportunities to distribute premium video like we not till hell freezes over imagined.”
“The tech companies are just demonstrating that to us. So we want to participate in this,” he articulate, referring to Netflix and Amazon, which have been disrupting the centre landscape by delivering original programming directly to users online.
That kind, referred to over-the-top or OTT, has contributed to so-called cord-cutting, the trend of some goggle-box viewers bolting the traditional cable and satellite TV services and getting show over the internet.
Since 2016, AT&T has been offering a lower-cost, smaller medium “DirecTV Now” service starting at $35 per month.
The AT&T-Time Warner fusing puts together a vast number of businesses across many vertical energies. Time Warner’s properties include Turner Broadcasting’s CNN as well as HBO and the Warner Bros. flick picture show and television studio. AT&T, the nation’s second-largest wireless firm, also owns DirecTV and tenders broadband internet service.
This week’s federal court command of in favor of AT&T is being seen as a mandate for other media mergers. But Stephenson said he’s unsure how or whether the AT&T position should apply to other proposed deals in the media industry, duplicate the judge’s ruling.
“The temptation by some to view this decision as being something various than a resolution of this specific case should be resisted by one and all!” Leon thought.