A lot of this is eyeballs and the ability to deliver to those eyeballs. Agree that cable alone is in trouble. The content is king, but you also need the wireless and wireline networks to deliver it.
85b for ‘content’ is complete bullsh*t.
With high probability here’s what went down.
There’s a ton of ‘free money’ right now for those with the right connections to the Fed Reserve.
CNN/Turner who are in decline look around and see a suitor ATT that can get a ton of it if they have the right approach which is a Merger-Acquisition because anything else requires real work and real innovation.
CNN/Turner can’t get the cash themselves because they suck and ATT needs a fast excuse. So they gather at a golf course and talk smack.
After ATT’s lawyers pay off themselves and other parties, ATT controls Turner and Turner has cash which is pledged back to ATT by side agreement.
Everyone swims in free money.
Got to get the cash now because Trump is going to restore reality to the money markets which means money will no longer be free. Trump said himself he would have the US Govt borrow to rebuild the military and other critical items because money is so cheap. But after awhile the era of free money will be in the rearview mirror.
That’s what we are seeing here.
85b for CNN/Turner? About as credible as a hooker saying Trump sexually assaulted her way back when.