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Big Media Merger Talks: ATT + CNN + Discovery + TNT

ATT is pondering merging all its media holdings into one big company.
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Merger Talks

Mega Merger

The WSJ reports ATT in Talks to Combine Assets 

The talks, which cover CNN and other parts of AT&T’s WarnerMedia division, including the TNT and TBS cable channels, are advanced, and an agreement could be reached by Monday, the people said.

Possible Inclusions

  • ATT
  • CNN
  • TNT
  • TBS
  • Discovery 
  • HGTV
  • Warner Media

It's not a done deal yet but if it happens look for ATT to reduce expenses which means reducing redundancies and slashing jobs. 

The lead image from June 2018 when ATT bought TimeWarner and in the process became the most indebted nonfinancial corporation.

I added notes on the current proposal. 

 ATT's Balance Sheet

ATT's Balance Sheet shows that it has $160.694 billion in long-term debt as of March 31, 2021, up from $153.775 billion on December 31, 2020.

Total current liabilities are 76.608 billion up from $63.438 billion as of December 31, 2020.

ATT is the most indebted nonfinancial company in the US.

Ford is #2

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For comparison purposes here is Ford's March 31, 2021 Quarterly Report

Ford has both a financial and a nonfinancial aspect thanks to Ford Credit (See page 21).

Excluding Ford Credit, debt is $29.653 billion, with Ford Credit at  $128.979 billion.

Nonfinancial Corporate Debt Kings

  1. ATT
  2. Ford 
  3. Verizon
  4. Comcast
  5. Pemex
  6. Evergrande
  7. Anheuser-Bush
  8. Softbank
  9. Apple
  10. General Electric

That list is as of May 26, 2020, according to Global Finance The World's Most Indebted Companies.

ATT Dividends

Despite its #1 debt ranking, ATT still pays a dividend. 

The board of directors of AT&T Inc. declared a quarterly dividend of $0.52 a share on the company's common shares on March 26, 2021.

A Word About Customer Service

I have had the unfortunate need to call ATT many times for service issues on wireless, a land line, and internet issues.

ATT is the absolute worst in customer service of any company I have ever dealt with. 

It is very hard to get a live person. It's automated interface is the worst I have seen.

None of its units talk with each other and if you end up in the wrong place you have to start all over.