![]() I found it to be a different creative process with people who are incented and motivated differently. It’s all about being unique and special and different and your own intellectual property. It certainly isn’t going to be the kind of an approach that works in media. It’s natural for me to walk into a group of 200 people in the communications business and talk about what we need to do to get perfect broadband out to millions and millions of people. ![]() I think they just are motivated differently. Is the entertainment industry more of a snake pit than the telco industry? The meeting was leaked to the press and you were presented in an unflattering light as a sort of clueless telcom guy that didn’t really get the creative business. ![]() Right after the deal was announced you paid a visit to HBO headquarters in New York. It’s just utterly different and very, very unique and bespoke to a particular individual or particular individual’s capabilities. I’m not talking about the cut per say, but what I am suggesting is that a company that has management expertise in their current line of business maybe struggles a little bit when you motivate and incent people in the media industry. Everybody kind of has a different dynamic around how they can sell and that is very different than many other businesses and verticals. It’s people who write and showrunners it’s executive producers who bring packages and talent together. Are you referring to the stars or directors taking a huge cut of a movie or hit show? The incentive structure is very much built around the contributions of an individual or individuals as opposed to inherent value that the corporation owns or builds. I think some of the unique characteristics of the media business are incentive structures that are quite a bit different than many publicly traded operations. Why has buying entertainment companies proved to be such a minefield for outside companies?Įvery industry has unique characteristics. And our hope is over the next four or five years, we free ourselves of that. All that cost structure is being re-engineered out of the business right now. When I talk about transforming the business, and altering the cost structure, a major part of that work is shedding all that cost structure associated with excellent, great products for many, many decades that have now run their course. Costs of landlines are going up because scale has gone down and the fixed cost structure largely hasn’t changed. Ten dollars does not cover the cost of the landline. Are you losing money on the landline business? It’s a very small number, less than 20% of our peak. It has spun off DirectTV and Warner Media to refocus on building on the telecom infrastructure that is the backbone of much of the modern connected economy. The consensus view on Wall Street is that AT&T has spent the last two years undoing what it did in the previous six. The company is now back to its core business of connecting businesses and consumers to each other. Yet for the past six years, AT&T has been on a costly and distracting foray into the media business, gobbling up DirectTV and Time Warner in huge acquisitions. It is routinely one of the most significant annual investors of capital in the U.S., investing more than $135 billion in its networks and spectrum over the past five years, according to company sources. It’s a fast emerging player in broadband with a high-quality fiber offering. Many Fortune 100 companies rely on the telecom giant for vital communications infrastructure and it is a leading provider of wireless phone service for consumers, including 5G. AT&T has long been one of the most respected names in corporate America. Visiting these accounts will give you valuable insight into the brand’s latest news.Even iconic companies can endure a grueling identity crisis. With the app, you can live chat with an agent, manage your services, shop and upgrade your account, and more.Īdditional communication options include AT&T’s social media pages (part of its intellectual property). To help save you time and ensure you receive the best possible customer service, AT&T has made a mobile app available to its customers.
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