AT&T chief admits buying DirecTV was a mistake

In a candid interview, John Stankey said his predecessor failed to recognize the trend of cord-cutting for what it was.
(Image: AT&T/Handout, Graphic: The Desk)

Summary:

• In recent comments, AT&T’s CEO John Stankey admitted buying DirecTV was a mistake.

• “Is it a transaction that one would have undertaken if it knew everything that it knew today?” Stankey questioned, before saying, “Probably not.”

• AT&T agreed to spin off DirecTV earlier this year in a deal valued at one-third of its acquisition price.


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