AT&T
may be leaning toward a straightforward spinoff of the 71% stake in the new Warner Bros. Discovery in the coming months rather than a complex “split-off,” or exchange offer.
A transaction in one of those forms will take place when
AT&T
(ticker: T) merges its WarnerMedia business with Discovery (DISCA).
Wall Street had been assuming that AT&T was favoring a split-off until AT&T CEO John Stankey made certain comments on the company’s earnings conference call last Wednesday and later on CNBC. Barron’s recently wrote about the possibility of a split-off.
AT&T’s decision, which could be announced in February, ahead of the expected closing of the big media transaction in the second quarter, has been the subject of much speculation among…
