AT&T CEO John Stankey Talks Future of Media and Telecom on CNBC
CNBC Transcript: AT&T CEO John Stankey Speaks with CNBC’s David Faber on “Squawk on the Street” Today
AT&T Chief Executive John Stankey spoke with CNBC’s David Faber on “Squawk on the Street” this morning. Here is a transcript of their conversation.
Faber: I want to drill down a bit more on the media strategy. Obviously, you've got a pretty big footprint here. You've invested a lot of money in content. Obviously, it's a tough business. And I know you had talked before about kind of spinning off some of these assets. Is that still part of the plan?
Stankey: We have spun off a lot of our media assets into a new entity called Warner Bros. Discovery. That transaction closed earlier this year. We continue to own some media assets. We still own CNN, we own the regional sports networks, and we own a variety of other smaller media assets. But we have pruned the portfolio significantly.
Faber: Right, but I think most people believe that you're going to ultimately sell CNN. Is that a fair assumption?
Stankey: We've said that everything is for sale at the right price. But we have not made a decision around CNN specifically. It's a very important asset to us. It's a very important brand. And it's a very important part of our overall portfolio. So we're not in a rush to do anything with CNN.
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