AT&T Inc. (NYSE:T)
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2 Months : From Apr 2019 to Jun 2019
By Josh Beckerman
AT&T Inc. (T) reaffirmed its 2019 guidance and expects significant cash flow this year and next will help it reduce debt.
By year-end, it expects to have repaid 75% of the $40 billion it borrowed to buy Time Warner Inc. last year.
The company said it has already reached $5 billion of agreements toward its 2019 full-year asset monetization goal of $6 billion to $8 billion.
AT&T expects low single-digit adjusted earnings-per-share growth and free cash flow of about $26 billion for the year.
As AT&T's WarnerMedia develops its own streaming service, the treatment of prominent Warner shows like "Friends," "The Big Bang Theory" and "Seinfeld" has received attention.
Netflix Inc. (NFLX) and WarnerMedia reached an agreement in late 2018 that kept "Friends" on Netflix through 2019.
AT&T said Tuesday that WarnerMedia "plans to take back some owned-content previously licensed to others" and instead place it on the streaming service, which is slated for a beta launch in the fourth quarter.
Write to Josh Beckerman at firstname.lastname@example.org
(END) Dow Jones Newswires
May 14, 2019 19:09 ET (23:09 GMT)
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