AT&T is aiming possible sale of CNN to pay its massive debt (November 15, 2020)


Fox Business Network senior correspondent Charlie Gasparino told Tucker Clarson on his political talk sho, Tucker Carlson Tonight, on Fox News that “CNN does not have Donald Trump to kick around anymore. Their rating will take a hit. They are owned by a company that financially unstable. $150 billion dollars in debt AT&T has. They need to cut cost” (November 14, 2020).

Banker speculation that this is for sale … active investors pushing it.

Gasparino: Bezos uninterested in CNN … for now.

AT&T INC. 2019 Annual Report

Consolidated Balance Sheets

Dollars in millions except per share amounts

December 31,

2019

2018

Assets

Current Assets

Cash and cash equivalents

$ 12,130

$ 5,204

Accounts receivable – net of allowances for doubtful accounts of $1,235 and $907

22,636

26,472

Prepaid expenses

1,631

2,047

Other current assets

18,364

17,704

Total current assets

54,761

51,427

Noncurrent inventories and theatrical film and television production costs

12,434

7,713

Property, Plant and Equipment – Net

130,128

131,473

Goodwill

146,241

146,370

Licenses – Net

97,907

96,144

Trademarks and Trade Names – Net

23,567

24,345

Distribution Networks – Net

15,345

17,069

Other Intangible Assets – Net

20,798

26,269

Investments in and Advances to Equity Affiliates

3,695

6,245

Operating lease right-of-use assets

24,039

Other Assets

22,754

24,809

Total Assets

$551,669

$531,864

Liabilities and Stockholders’ Equity

Current Liabilities

Debt maturing within one year

$ 11,838

$ 10,255

Accounts payable and accrued liabilities

45,956

43,184

Advanced billings and customer deposits

6,124

5,948

Accrued taxes

1,212

1,179

Dividends payable

3,781

3,854

Total current liabilities

68,911

64,420

Long-Term Debt

151,309

166,250

Deferred Credits and Other Noncurrent Liabilities

Deferred income taxes

59,502

57,859

Postemployment benefit obligation

18,788

19,218

Operating lease liabilities

21,804

Other noncurrent liabilities

29,421

30,233

Total deferred credits and other noncurrent liabilities

129,515

107,310

Stockholders’ Equity

Preferred stock ($1 par value, 5% cumulative, 10,000,000 authorized,

48,000 shares issued and outstanding at December 31, 2019

and 0 issued and outstanding at December 31, 2018)

Common stock ($1 par value, 14,000,000,000 authorized at December 31, 2019 and December 31, 2018: issued 7,620,748,598 at December 31, 2019

and at December 31, 2018)

7,621

7,621

Additional paid-in capital

126,279

125,525

Retained earnings

57,936

58,753

Treasury stock (366,193,458 at December 31, 2019

and 339,120,073 at December 31, 2018, at cost)

(13,085)

(12,059)

Accumulated other comprehensive income

5,470

4,249

Noncontrolling interest

17,713

9,795

Total stockholders’ equity

201,934

193,884

Total Liabilities and Stockholders’ Equity

$551,669

$531,864

The accompanying notes are an integral part of the consolidated financial statements.

Reference:

Carlson, T. (November 15, 2020). Charlie Gasparino: AT&T is looking to sell CNN. Tucker Carlson Tonight. Retreived from https://video.foxnews.com/v/6209832798001#sp=show-clips