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AT&T CEO Defends WarnerMedia Strategy, Addresses Activist Investor’s Letter

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AT&T chairman and CEO Randall Stephenson defended the $85 billion deal for Time Warner as the right strategy for the company in response to criticism from an activist investor. Consumers are watching more content and more of that viewing is digital, so combining a telecommunications company like AT&T with a content powerhouse like WarnerMedia is the right vertical integration play, Stephenson said, speaking at Goldman Sachs’ Communacopia conference Tuesday in New York...

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