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MarketScreener Homepage  >  Equities  >  Nyse  >  AT&T Inc.    T

AT&T INC.

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AT&T : Monetizes Majority Stake in Central European Media Enterprises

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10/13/2020 | 10:13am EDT

Czech investment firm PPF Group N.V. today completed its acquisition of Central European Media Enterprises Ltd. (CME). With the transaction closed, AT&T Inc.* (NYSE: T), which was the largest shareholder in CME, received $1.1 billion in cash and no longer backstops approximately $575 million in CME debt. AT&T acquired its stake in CME with the acquisition of Time Warner, now WarnerMedia, in 2018.

The sale is consistent with AT&T’s ongoing efforts to monetize non-core assets to drive incremental shareholder value. The company plans to continue to focus on lowering its net debt to strengthen its balance sheet and will remain opportunistic around opportunities to further improve its borrowing costs.

AT&T plans to announce third quarter 2020 results on Thursday, October 22, 2020. The company’s earnings call will begin at 8:30 a.m. ET that day. Shareholders can listen to a live broadcast via the internet at AT&T Investor Relations.

*About AT&T

AT&T Inc. (NYSE:T) is a diversified, global leader in telecommunications, media and entertainment, and technology. WarnerMedia is a leading media and entertainment company that creates and distributes premium and popular content to global audiences through its consumer brands, including: HBO, HBO Max, Warner Bros., TNT, TBS, truTV, CNN, DC Entertainment, New Line, Cartoon Network, Adult Swim and Turner Classic Movies. Xandr, now part of WarnerMedia, provides marketers with innovative and relevant advertising solutions for consumers around premium video content and digital advertising through its platform. AT&T Communications provides more than 100 million U.S. consumers with entertainment and communications experiences across TV, mobile and broadband. Plus, it serves high-speed, highly secure connectivity and smart solutions to nearly 3 million business customers. AT&T Latin America provides pay-TV services across 10 countries and territories in Latin America and the Caribbean and wireless services to consumers and businesses in Mexico.

AT&T products and services are provided or offered by subsidiaries and affiliates of AT&T Inc. under the AT&T brand and not by AT&T Inc. Additional information is available at about.att.com. © 2020 AT&T Intellectual Property. All rights reserved. AT&T, the Globe logo and other marks are trademarks and service marks of AT&T Intellectual Property and/or AT&T affiliated companies. All other marks contained herein are the property of their respective owners.

Cautionary Language Concerning Forward-Looking Statements

Information set forth in this news release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results might differ materially. A discussion of factors that may affect future results is contained in AT&T’s filings with the Securities and Exchange Commission. AT&T disclaims any obligation to update and revise statements contained in this news release based on new information or otherwise.

This news release may contain certain non-GAAP financial measures. Reconciliations between the non-GAAP financial measures and the GAAP financial measures are available on the company’s website at https://investors.att.com.

© Business Wire 2020

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Financials (USD)
Sales 2020 171 B - -
Net income 2020 12 563 M - -
Net Debt 2020 145 B - -
P/E ratio 2020 15,2x
Yield 2020 7,76%
Capitalization 192 B 192 B -
EV / Sales 2020 1,98x
EV / Sales 2021 1,94x
Nbr of Employees 234 630
Free-Float 93,4%
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Technical analysis trends AT&T INC.
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 30
Average target price 32,29 $
Last Close Price 26,92 $
Spread / Highest target 41,2%
Spread / Average Target 19,9%
Spread / Lowest Target -36,8%
EPS Revisions
Managers
NameTitle
John T. Stankey President, CEO, COO & Director
Randall L. Stephenson Executive Chairman
John J. Stephens Chief Financial Officer & Senior Executive VP
Matthew K. Rose Lead Independent Director
Scott T. Ford Independent Director
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