The world leader in technology, entertainment, communications, and media, AT&T which is also considered as Fortune 10 company has committed to cut off the heavy debt load in 2019 via undertaking variety of measures which also includes a review of their non-core assets which includes its stake in Hulu, video streaming company in a possible sale.
AT&T is the second-largest wireless carrier in the U.S. revealed in an analyst meeting in the Big Apple by saying that they are going to pay around $18 billion up to $20 billion of their debt before 2019 ends. AT&T is going to generate around $8 billion in cash by selling some of their assets.
AT&T share has reportedly risen to 1 percent in a few hours trade in the middle of a presentation is now down by 21 percent as the investors seem concerned about the heavy debt of the company that sums up around $183 billion on 30th September after AT&T purchased Time Warner, media company.
The company has revealed that they are expecting a flow of free-cash of around $26 billion, above the mean estimate of approximately $24.84 billion which were made by their analysts, as per the IBES data that comes from Refinitiv. AT&T also said that the rise in free cash flow is going to help them in achieving a year-net-debt that has a ratio range of 2.5 times.
AT&T has also provided the new details about the brand news streaming rival to the video streaming giant Netflix which is expected to be launched by the end of 2019 by the new segment of WarnerMedia which also includes Turner networks along with premium channel HBO.
The new line of product is going to include three types of service such as an entry-level package which primarily focuses on movies, a premium level tier that features original programming as well as the highest tier that will allow the subscriber to view the contents that are licensed from other providers.
