Deals
AT&T Turns to Media Acquisitions as Its Video Ambitions Grow
- Largest U.S. pay-TV provider wants to cut programming costs
- CEO said to keep list of 40 cos., some potential purchases
AT&T Looks to Hollywood as TV Ambitions Grow
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AT&T Inc. has gone from a regional phone company to a national telecommunications powerhouse over the last decade. Its next big expansion will see it buying businesses to transform into a media and entertainment giant, according to people familiar with the plans.
Over the next three to five years, AT&T will seek deals to become a producer of programming, shifting its business model so that it owns some of the content it distributes, said the people, who asked not to be identified discussing the company’s strategy. The company’s targets include companies worth $2 billion to $50 billion, the people said.