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AT&T is under pressure to prove its $85 billion acquisition of Time Warner will pay off, after an activist investor letter called its M&A strategy into question this week.
The telecom giant’s best path forward might be selling off the collection of Turner cable networks it acquired as part of the deal, Barclays analysts wrote in an investor note on Tuesday.
The cable networks could be attractive to buyers like the forthcoming combined CBS and Viacom, which is reportedly shopping for more assets to shore up its content portfolio.
“In our opinion, cable networks are likely to be the most challenged part of the legacy media value chain and unless AT&T invests in making these businesses more sustainable … we believe the company would be better off selling this asset now when there is still interest in media deals,” Barclays wrote.
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AT&T is under pressure to prove its $85 billion acquisition of Time Warner, now called WarnerMedia, will pay off for investors.

Activist investor Paul Singer’s Elliott Management published on Monday a 24-page letter that questioned the company’s M&A strategy and called on the telecom giant to clearly articulate its plan for the WarnerMedia assets it …read more

Source:: Businessinsider – Tech


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