DISCB - AT&T's Stankey: HBO Max deserved value unlock; Cost cuts one-third complete

HBO Max wasn't getting the valuation from investors that it deserved, and so a merger with Discovery (DISCA -1.5%) was forged to see if the market wouldn't value it more like rivals including Netflix (NFLX +0.4%), AT&T (NYSE:T) CEO John Stankey suggests. Speaking at Goldman Sachs' Communacopia conference, Stankey calls it "an asset that's trading right now like a cable network asset ... My belief is as we get through this, we should see that multiple start to recognize the fact that there's a great direct-to-consumer business that should be valued in the same way the market is valuing other great direct-to-consumer businesses." Asked to recap the year since last year's conference - where the set priorities were a focus on growing the customer base, a robust direct-to-consumer experience through expanded distribution/content on HBO Max, and a disciplined capital allocation strategy - Stankey says "I couldn't be more pleased across

For further details see:

AT&T's Stankey: HBO Max deserved value unlock; Cost cuts one-third complete