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Is AT&T Stock a Buy Following Warner Bros. Discovery Spinoff? J.P. Morgan Weighs In


AT&T Isn’t Calling My Name, But I Have a Trade Idea

On Friday, AT&T and Discovery closed the $43B “Reverse Morris Trust” deal that turned their media operations into one larger, potentially key player in that space, while separating the core telecom and communications businesses. The merger combined AT&T’s Time Warner business (including Warner Bros, HBO, Cinemax, Turner Broadcasting, CNN, CNN+, HBO, HBO Max, etc.) with Discovery (including Discovery, Discovery+, HGTV, Science Channel, Cartoon Network, TCM, TNT, Food network, TLC, Animal Planet, etc.). AT&T moves forward as a more finely tuned, much lighter company focused on 5G, wireless communications, and fiber-optic networking.

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